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The First Bank of the United States in Philadelphia has been granted US$22m in federal funding to turn the historic building into an interactive museum
Tom Anstey | Planet Attractions | 18 Jul 2023
The First Bank of the United States was founded in 1791 Credit: INHP
First Bank of the United States - the US’s first national bank - is set to be transformed into a state-of-the-art interactive museum.
Founded in 1791, the landmark in Philadelphia, Pennsylvania, has been awarded US$22.2m (€19.7m, £16.9m) via Independence National Historical Park (INHP) to transform the historic site into a modern museum experience.
The initial step, says INHP, is to reopen the First Bank as a space for immersive exhibitions that explore the birth of the US financial system and the legacy of Alexander Hamilton, the man behind the bank’s foundation.
The grant will be paired with a US$4.5m (€4m, £3.4m) sum already raised by Independence Historical Trust (IHT) - INHP’s philanthropic partner. Both INHP and IHT plan to open the bank to the public by 2026 - the 250th anniversary of its founding. A further US$6.6m (€5.8m, £5.4m) will be sought to fabricate and install a number of interactive exhibits.
The building’s facade survives intact and established a template for bank architecture for the next century and a half. Weathered elements of the facade will be repaired or replaced as part of the rehabilitation, and the building's grand interior, a floor-to-roof rotunda supported by 40 columns and crowned by scalloped glass panes installed during a renovation in 1902, will be retouched.
All mechanical systems will be modernised while the back of the building will serve as the primary entry for all visitors. The original front doors, which open onto South Third Street, will continue to function and be used for special events.
INHP and IHT will work with historic preservation specialists, John Milner Architects, on the project.
Local Projects, based in New York, will spearhead the visitor experience and varying exhibitions and displays. The firm has created iconic experiences for prominent national museums and memorials, including The National September 11 Memorial and Museum.
“Rehabilitating the First Bank will meet a long-held goal for INHP – it was acquired in 1956, with the establishment of the park, but has been closed to the public for many years,” said Amnesty Kochanowski, acting superintendent of Independence National Historical Park.
“The landmark building gives the park the opportunity to showcase aspects of the economy of the early republic and the role of the controversial bank.”
The bank was first proposed in 1790 - the second year of George Washington’s Presidency. Chartered for a term of twenty years, by the United States Congress on February 25, 1791, the bank would back the US’s national coinage, open new branches, become the leading source of credit for citizens and stabilise the economy during the financial panic of 1792.
Heritage
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