The First Bank of the United States, an iconic building in Independence National Historical Park, is set to receive a significant boost. A $22.2 million investment from the Great American Outdoors Act (GAOA) Legacy Restoration Fund has been allocated for the bank’s extensive rehabilitation.
This initiative comes in anticipation of the 250th anniversary of the Declaration of Independence in 2026. The bank, built between 1795-97 when Philadelphia served as the nation’s capital, was the first building designed specifically for the new federal government.
Acting Superintendent Amnesty Kochanowski expressed excitement about the project. “Rehabilitating the First Bank will meet a long-held goal for the park,” Kochanowski said.
“This national historic landmark was acquired in 1956 when the park was established but has been closed to the public for most of the park’s history. The restoration of the renowned building gives the park the opportunity to showcase aspects of the economy of the early republic and the role of the controversial national bank.”
The exterior work funded by GAOA will include the replacement of leaking metal roofing, flashings, hatches, and louvers. Marble and brick masonry will be stabilized, cleaned, and repaired, according to a National Park Service (NPS) news release.
The interior renovations will correct moisture incursion problems, repair damage to walls, replace an elevator, update the electrical and HVAC systems, and add accessible restrooms and a fire suppression system.
A new addition will serve as the main visitor entrance. The work will be performed by the Bedwell Company of West Chester, Penn., a small, local contractor.
The GAOA’s National Parks and Public Lands Legacy Restoration Fund is part of a concerted effort to address the extensive maintenance backlog in national parks.
Supported by revenue from energy development, the fund provides up to $1.3 billion per year for five years to the NPS to make significant enhancements in national parks to ensure their preservation and provide opportunities for recreation, education, and enjoyment for current and future visitors.
The Independence Historical Trust, the park’s philanthropic partner, is supplementing the restoration work funded by GAOA.
Thus far, they have raised $4.5 million for essential architectural and construction documents and for the design, fabrication, and installation of state-of-the-art interactive and immersive exhibits once the building rehabilitation is complete.
Volunteer Executive Director Tom Caramanico expressed the trust’s commitment to the project. “The trust is proud to help renovate the First Bank and create a museum about the early American economy and the realization of Alexander Hamilton’s vision for an economically unified nation,” Caramanico said.
“We are committed to completing the fundraising goal of $5 million and confident that donors will be further motivated by the commencement of the building’s restoration.”
The upcoming semi-quincentennial is expected to increase interest in the places, people, and stories associated with Independence National Historical Park. The renovated First Bank of the United States and its exhibits will provide additional insight into the watershed events of 1776 and the establishment of a new nation.
This investment in the First Bank of the United States is a testament to the importance of preserving national historical landmarks. It also highlights the role of the GAOA in ensuring the longevity of these sites.
The restoration of the First Bank is not just about preserving a building; it’s about preserving a piece of American history and making it accessible for future generations to learn from and appreciate.
The $22.2 million investment from the GAOA into the First Bank of the United States signifies a significant step towards the preservation of national historical landmarks. The restoration of the bank will provide an opportunity for the public to learn about the early American economy and the role of the national bank.
The project, backed by the Independence Historical Trust, is set to be a major attraction in the lead-up to the 250th anniversary of the Declaration of Independence.
For private campground operators in the vicinity of Independence National Historical Park, this restoration project presents a unique opportunity. The anticipated increase in visitor interest leading up to the 250th anniversary of the Declaration of Independence in 2026 could result in a significant boost in tourism and overnight stays.
To leverage this, operators may consider developing themed packages or events that tie into the history of the First Bank and the early American economy. Additionally, partnerships with local tour operators could be beneficial in offering guided tours to the restored bank.
Featured image from National Park Service.