First envisioned back in 2003, the enormous crystalline glass structure stands nearly complete on top a historic warehouse on the edge of the River Elbe. Rising costs, delayed schedules and legal issues with the contractor, have plagued this magnificent concert hall with controversy. However, according a report in the German news magazine Der Spiegel, contractor Hochtief has initiated a new deal to ensure the completion of the building.
A revised contract, which is expect to adjust the architect’s fee’s to €94 million (€17 million over the original project cost), has projected Elbphilharmonie will be completed within the next four years. The news is bittersweet, as the architectural community and the residents of Hamburg have been waiting years for this highly anticipated concert hall to be complete, yet they cringe at the news of an overblown €575 million price tag.
Image via Flickr user Martin Wippel, licensed under Creative Commons.