In 1972 an extension and a remodeling of the building were proposed, these changes were made during the presidency of Alfonso López Michelsen, between 1974 and 1978 . the remodeling works kept the seventh Carrera façade in its original form, but the remaining parts of the building were redesigned including the gardens, the National Observatory, the Plaza de Armas (Parades Square), the neoclassical style portico and the west wing that left the palace totally isolated from the other buildings. The restoration works were carried out by the architect Fernando Alsina, who was an auditor of the Ministry of public works. In order to make a complete restoration and extension of the palace it was necessary to demolish some nearby buildings such as the house of the Botanical Expedition, the mail administration and the house of Camilo Torres, among others. The total cost of the works was 250 million Colombian pesos. .