Federal Reserve Bank of Kansas City Unveils Headquarters Design

The Federal Reserve Bank of Kansas City released the design of its new headquarters today, a 14-story limestone-clad tower with a two-level conference and visitor center bordering Penn Valley Park.

“We don't want a tribute to ourselves,” said Thomas M. Hoenig, president and CEO of the Kansas City Fed. “We want an office building that's useable, but is still substantial and they delivered it to us.”

The principal architect of the 600,000-square-foo t building is Henry N. Cobb of New York-based Pei Cobb Freed & Partners. Ellerbe Becket Architects is assisting on the project. It will occupy a 15.7-acre site on the south edge of Penn Valley Park and is approximately the same height at Liberty Memorial, which lies across the park on the north edge.

A groundbreaking for the $200 million project is scheduled for late spring 2005 and completion is anticipated in spring 2008. The Federal Reserve Bank plans to sell its current quarters at 925 Grand Blvd. within the next three months and lease the space back until the new building is completed. The asking price is $10.8 million.

“We've had considerable interest,” Hoenig said. “I don't think we'll have trouble selling. It's a very attractive building.”

The new Federal Reserve complex will have a five-level, 925-space employee garage to the south. The office tower will ris