Nestled in the heart of downtown Palm Springs, a gem from 1959 has been lovingly restored to its former glory. The Bank of America financial center at 588 S. Palm Canyon Drive recently unveiled its meticulous renovation, drawing nearly 100 community leaders, clients, and bank employees to a grand reopening celebration. This historic building, a testament to midcentury modern design, now stands as a renewed beacon of architectural elegance and community commitment.
“Bank of America was the first bank to open a branch in the low desert region back in 1929, located in Palm Springs, and that commitment to the community continues today with our investment to preserve this magnificent midcentury modern landmark for future generations,” said Bansree Parikh, Bank of America Inland Empire president. Originally intended as a brief project to replace the roof, the endeavor expanded into a comprehensive three-year restoration effort. The team focused on safety enhancements, energy efficiency, and the painstaking revival of the building’s original architectural features. This monumental task was made possible through the unwavering support of clients, city officials, and historic preservation advocates.
The grand reopening featured notable speakers, including Palm Springs City Councilmembers Ron deHarte and Lisa Middleton, Gensler architect Michael McAllister, Palm Springs Modern Committee President Courtney Newman, and Palm Springs Preservation Foundation Board Chair Gary Johns. Each speaker emphasized the cultural and historical significance of the building, underscoring the importance of preserving such landmarks for future generations.
The extensive renovation work included a new roof, weather-proofing, and energy conservation measures. Reinforced columns and beams now meet modern safety and seismic standards, while the cantilevered soffits were demolished and reconstructed. The exterior curtain wall was replaced, and the building’s paint colors were meticulously matched to the original specifications. Notably, the project preserved and reused the original blue tiles, restored the iconic pendant lights, and replaced the original terrazzo flooring to maintain the building’s authentic midcentury modern charm.
Bank of America’s roots in Palm Springs date back to November 25, 1929, when it opened its first branch at 201 N. Palm Canyon Drive, just a month after the stock market crash that heralded the Great Depression. This was the area’s first bank, serving a community that previously had to travel to Banning, CA, for banking services. The branch relocated several times, growing with the community, before settling into its current home, originally designed by the acclaimed architect Charles Luckman.
This 1959 landmark, initially a City National Bank, changed hands over the years, becoming part of Security Pacific Bank in 1989 and ultimately transferring to Bank of America in 1992. Recognizing its historical value, the City of Palm Springs designated it a Class One Historic Site in July 2007.
Today, the restored Bank of America branch stands as a proud symbol of Palm Springs’ rich history and architectural heritage, seamlessly blending the past with the present and ensuring its legacy for future generations to admire.
