Construction of an $8 million addition to the operations center of American Security Bank is underway at 7th Street and Massachusetts Avenue NW.
The project, near the location of the proposed convention center, will be the site of 542 new jobs and a $5.5 million payroll, according to ASB chairman Carleton M. Stewart.
The bank's first operation center on the same site was built in the Mount Vernon Square area after civil disorders in dowton in April, 1968.
The new seven-story building of reinforced concrete with bronze glass and travertime columns was designed by architect Vlastimil Koubek to complement the present structure. The Marshall B. Coyne Corp. is the builder. The total structure will house the entire computer network for ASB and the generated heat energy will be recovered to provide heat for the building.
The heating pipes will be used for air conditioning in an integrated system that a bank official said would save $75,000 in construction costs and nearly $18,000 annually in fuel costs.
The building also will have what was described as an "uninterrupted power system" to provide battery-powered contingency service in event of a power outage.
When the addition is completed next year, the total structure for the bank's operations center will have 225,000 square feet of space and be the working base for more than 900 employees.
A first-floor cafeteria will provide on-site cooking facilities and seating capacity for 150 persons.