Construction began in May on a new headquarters complex for the European Central Bank in Frankfurt’s Ostend district, flanking the Main River.

European Central Bank Headquarters Project Under Way

Designed by Coop Himmelb(l)au, based in Vienna, the energy-efficient design includes a geothermal heating system. Gassmann + Grossmann Baumanagement GmbH is the construction manager on the project. It is expected to be completed by 2014, at a cost of $1.05 billion.

The 12-hectare site was formerly home to the Grossmarkthalle, the city’s wholesale produce market; the 12,500-sq-meter market building is being restored and incorporated as part of the bank complex.

The complex’s centerpiece will be two towers linked by a three-level, light-filled atrium. The 43- and 45-story towers will house up to 1,800 employees and contain 110,000 sq m of floor space.