New York firm Beyer Blinder Belle Architects & Planners (BBB) has announced that it will begin a major renovation and adaptive reuse of Exchange Palace, a historic landmark occupying two city blocks in central Budapest. The 1905 building was designed in the Hungarian Secessionist style by Ignacz Alpar, and according to BBB principal and project lead Jack Beyer, it “is a reflection of the entire Hungarian culture from the turn of the [last] century right through to today.”
At the time it was built, in the waning days of the Austro-Hungarian Empire, Exchange Palace housed the largest stock exchange in Europe. But the ravages of the twentieth century—World Wars, the Depression, and Soviet occupation—all took their toll on the once grand structure, and in 1948 the stock exchange was dissolved and the Hungarian government nationalized its assets.
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