After the fusion of two banks in 1998, the newly formed HypoVereinsbank decided to implement a far-reaching concept for its city-centre premises. The historical fabric of the street block was to be carefully opened up for pedestrian access and a wider range of uses. The architects sought to combine the small-plot, innercity property structure with the large-scale forms and courtyards of the nearby palace. This was to be achieved by creating a series of open spaces and internal courts linked by arcades. To enhance the urban quality of the scheme, various recreational and cultural amenities were also provided. The site covers an area of roughly 24,000m2, of which the arcades and courtyards account for 5,000m2. The ground floor is occupied largely by shops, cafés and bistros, with offices and housing on the upper storeys. Of the overall floor area, 16,600m2 are taken up by retail outlets, 2,560 m2 by the Hypo Art Gallery at second floor level, 55,000m2 by offices (including those of the bank), and roughly 6,000m2 by the 49 dwellings required by the city. The overall structure and the outer street facades were largely retained. Only 40 per cent of the existing fabric was replaced by new construction.