Originally built in 1927-1928 for the Acacia Life Insurance Company, this building derives its significance from its association with New Deal efforts to make homeownership affordable to more Americans. In 1933, under the supervision of the Federal Home Loan Bank Board, the Home Owners’ Loan Corporation was formed to serve as an emergency home mortgage refinancing agency, one of the federal government’s responses to the Great Depression and the cost of homeownership. This building became the headquarters for the Home Owners' Loan Corporation in 1934 and was expanded between 1935 and 1937, after which point it was renamed the Federal Home Loan Bank Board Building and occupied by the Board until the 1970s.
The building was a state-of-the-art Classical Revival office building at the time of its construction, and later additions brought Art Moderne elements to its design. It is an exemplar of an early 20th century office building, as well as a visible reminder of the New Deal and its programs.
DC Inventory: April 26, 2007
National Register: July 3, 2007