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Hamburg Moves to Buy Half of Elbtower for €595 Million Museum Plan, Cutting Tower to 199 Meters

City officials call it a cheaper, faster museum solution, with milestone-based payments and approval by the Hamburg parliament still required.

Overview

  • The proposal covers the lower twelve floors—about 46,000 square meters or roughly 48% of the building—for the planned natural history museum and research facilities.
  • City payments would be staged against defined construction milestones, with the first tranche due only after the tower is externally finished, and officials say the city will not take open construction risk.
  • The design shifts from 245 meters and 64 floors to about 199 meters and 52 floors, a change the Senat says was developed with architect David Chipperfield, while hotel, offices, retail and an observation deck remain planned.
  • An investor group led by Dieter Becken is negotiating exclusively with insolvency administrator Torsten Martini; work could resume next year if deals are finalized and the Bürgerschaft signs off.
  • Financing via loans and the federal infrastructure special fund has triggered criticism from CDU, Die Linke and the DGB, who decry public spending and accuse Mayor Peter Tschentscher of breaking earlier assurances.