William Donald Schaefer Building

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William Donald Schaefer Building
The William Donald Schaefer Building, also known as the William Donald Schaefer Tower or simply the Donald Schaefer Building, is a skyscraper in Baltimore, Maryland. The building rises 37 floors and 493 feet (150 m) in height, and stands as the third-tallest building in the city. If the flagpole atop the building, which reaches 690 feet, is included, the building would be the tallest in the state (flagpoles are normally not counted when determining architectural height). The nine upper floors are unoccupied and contain a spiral staircase to the top floor. The structure was completed in 1992. The William Donald Schaefer Building was named after William Donald Schaefer, who served as the mayor of Baltimore from 1971 until 1986. Schaefer later served as the Governor of the state of Maryland from 1987 until 1995. The building began its life as the "Merritt Tower" after the Merritt Commercial Savings and Loan. This savings and loan association went bankrupt after a run on its deposits in 1985 and was partially responsible for the collapse of the Maryland Savings-Share Insurance Corporation, a quasi-public nonprofit corporation which guaranteed deposits in state chartered banks and thrifts. The building was sold at auction for US$30 million. After a succession of owners, the Maryland Department of General Services purchased the building from Chemical Bank of New York for US$12.2 million.