Contrary to previous plans, the Bundesbank is foregoing new office buildings at the Frankfurt location and instead wants to focus more heavily on the renovation of older buildings than previously planned.
The main building in the north of Frankfurt, which was built between 1967 and 1972, has been being renovated since the beginning of 2022. The concrete construction – in the then widespread style of brutalism (from French concrete brut) constructed concrete building needs to be extensively renovated. As part of the renovation, pollutants such as asbestos and PCBs will be removed, prefabricated reinforced concrete elements on the facade will be replaced, and the building will be brought up to date in terms of energy efficiency.
Eleven floors of the 220 meter long, 17 meter wide and 60 meter high building have already been gutted and will offer more flexible work options in the future. The fact that the main building of the Bundesbank was surprisingly placed under monument protection in May 2022 is causing additional work. This delays the work. For example, wall coverings and doors in the former boardroom on the 12th floor and in the conference rooms on the 13th floor must be preserved in their original condition.
The Bundesbank originally wanted to build four new buildings on a campus around its main building and create space for 5,000 employees on the site. According to previous plans, the Bundesbank expected the new buildings to be moved into at the beginning of the 2030s. In May 2023, the plans were scaled back to a new building with around 5,000 square meters of office space due to increased construction costs and more home office options. This too is now a waste of time.
It is now being examined which buildings in the Bundesbank’s portfolio can be renovated. The Bundesbank has apparently abandoned its plan to consolidate all employees in the north of Frankfurt. Some will probably remain at workplaces in the city center. It is unclear how much the new rescheduling will delay the completion of the project and how this will affect the costs.