The William McChesney Martin, Jr. Building was designed by the architecture firm, H2L2, and located across C Street Northwest from the Marriner S. Eccles Federal Reserve Board Building. Designed in the 1960s, the building was a contemporary interpretation of classicism and used materials similar to the Eccles Building. An interior design objective of the building was to provide maximum flexibility of office space through movable partitions and modular furniture, as well as optimum energy utilization. Groundbreaking took place in 1971 and the building was completed in 1974. Dedicated on November 19, 1974, this building was named in honor of former Federal Reserve Board Chairman, William McChesney Martin, Jr. who served from April 2, 1951, through January 31, 1970.