Development
In 1999, an international architectural competition was launched by the bank to design a new building. It was won by a Vienna-based architectural office called Coop Himmelb(l)au. The building will be approximately 185 meters tall and will be accompanied by other secondary buildings on a landscaped site on the site of the former wholesale market (Großmarkthalle) in the eastern part of Frankfurt. The main construction work was planned to commence in October 2008, with completion scheduled for before the end of 2011.
Construction was planned to start in late 2008, but was put on hold in June 2008 as the ECB was unable to find a contractor that would build the Skytower for the allocated budget of €500 million due to the bidding taking place at the peak of the pre-late-2000s recession bubble. A year later with prices having fallen significantly the ECB launched a new tendering process broken up into segments. With the project back on, the ECB plans to move in mid-2014.
It is expected that the building will become an architectural symbol for Europe and is designed to cope with double the number of staff who operate in the Eurotower.
Read more about this topic: European Central Bank Headquarters
Famous quotes containing the word development:
“The man, or the boy, in his development is psychologically deterred from incorporating serving characteristics by an easily observable fact: there are already people around who are clearly meant to serve and they are girls and women. To perform the activities these people are doing is to risk being, and being thought of, and thinking of oneself, as a woman. This has been made a terrifying prospect and has been made to constitute a major threat to masculine identity.”
—Jean Baker Miller (20th century)
“And then ... he flung open the door of my compartment, and ushered in “Ma young and lovely lady!” I muttered to myself with some bitterness. “And this is, of course, the opening scene of Vol. I. She is the Heroine. And I am one of those subordinate characters that only turn up when needed for the development of her destiny, and whose final appearance is outside the church, waiting to greet the Happy Pair!””
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“I hope I may claim in the present work to have made it probable that the laws of arithmetic are analytic judgments and consequently a priori. Arithmetic thus becomes simply a development of logic, and every proposition of arithmetic a law of logic, albeit a derivative one. To apply arithmetic in the physical sciences is to bring logic to bear on observed facts; calculation becomes deduction.”
—Gottlob Frege (1848–1925)