The Architecture of Money
Generally speaking, the architectural history of the Oesterreichische Nationalbank is remarkable from the perspective of architectural history, since the Austrian central bank commissioned a significant building in almost every contemporary style. The first bank building, a Classicist construction located at Herrengasse, was built in 1823, and the most recent one, the Money Center in Garnisongasse, was completed in 1998. In a nutshell, for all its building projects, the OeNB always sought to opt for the best solution in terms of functionality, style and urban planning requirements with a view to ensuring top architectural quality. To this end, the OeNB invited tenders for the architectural designs.
The Establishment of the Austrian Central Bank
The "Imperial and Privileged Nationalbank" (“k.k. priviligirte Nationalbank“) was founded by Emperor Francis I on June 1, 1816. The private stock corporation was first housed in the building of the Bancodeputation at Singerstrasse 17–19.
However, the construction of a new and separate bank building was given consideration with a view to underscoring the independence of the central bank and to acknowledging the nascent economic recovery as well as to accounting for the increasing bank activities and the ensuing space constraints.
The First Representative Building
The first building of the “Imperial and Privileged Nationalbank” was erected at Herrengasse 17 from 1819 to 1823. This Classicist edifice can be regarded as the first specific bank building in Vienna.
On the back of the ongoing industrialization of the Austrian Empire, the bank expanded its business and had to purchase adjacent buildings at Bankgasse 3 in 1849 and at Herrengasse 15 in 1857. The plan to merge the central bank and the stock exchange under one roof implied the need for a new and larger building.
The Bank and Stock Exchange Building
The complex located between Herrengasse and Freyung later to be known as Palais Ferstel was planned as a combined bank, stock exchange and retail building. It was completed in 1860 and is regarded as the magnum opus of the romantic phase of early Viennese Historicism.
The building reflects a new spatial concept: financial transactions were no longer to take place behind solid iron doors, but rather in a building that was also accessible to the public. In addition, the spatial concept called for a coffee house (to become the renowned Cafe Central) apart from shop premises.
The Austro-Hungarian Bank, as the bank was called as from 1878, expanded continuously and solved the problems of space by buying additional surrounding buildings, with the result that by the beginning of the 20th century the central bank’s premises were spread across seven different buildings. Yet, again faced with space constraints, the bank decided to leave Herrengasse and to erect a new bank palace and a separate banknote printing facility on a site available at the Alserkaserne barracks.
The Envisaged "Palace of Money"
In 1909, the Austro-Hungarian Bank purchased the site at the Alserkaserne barracks to erect a new representative bank palace and a building for a banknote printing facility.
In 1911, the bank awarded the tender to Leopold Bauer, a student of Otto Wagner. The plan was to erect a “palace of money,” i.e. a magnificent edifice with a tower-like structure 84 meters high and an associated building to house the banknote printing works. Both buildings were to be linked by a richly decorated bridge.
Two historic events left their mark on the Austro-Hungarian Bank’s plans for expansion and on Leopold Bauer’s design of megalomaniacal dimensions. In the summer of 1913, one year before World War I broke out, construction work on the printing building, designed as a purely functional building, commenced. The subsequent breakdown of the monarchy forced plans for the bank palace to be reduced in scale, however.
The Main Building at Otto-Wagner-Platz
Following the liquidation of the Austro-Hungarian Bank, the Austrian central bank had to downscale its building project. The neighboring building, designed to house the banknote printing facility, which was structurally completed during World War I, was remodeled into the main building. The planning and supervision work was no longer awarded to Leopold Bauer, but entrusted the architects Ferdinand Glaser and Rudolf Eisler.
The new bank building, " … a utilitarian construction displaying solidity in all its parts…" (Neue Freie Presse dated March 19, 1925), was opened on March 22, 1925, and has since then continued to be the headquarters of the Oesterreichische Nationalbank. To this date, the outer appearance of the OeNB building has remained almost unchanged.
The building suffered seriously from a major fire in 1979, which destroyed five floors and had far-reaching architectural consequences for the interior design of the bank. The planning of the reconstruction was entrusted to the Vienna architect Carl Appel, who was also asked to add a roof floor.
Associated Buildings of the 1950s
During the 1950s, the Oesterreichische Nationalbank erected new buildings at Otto-Wagner-Platz in Vienna. From 1950 to 1956, Erich Boltenstern and Eugen Wachberger, a team of architects, constructed a residential building for bank staff as well as an underground car park beneath the Otto-Wagner-Platz park.
The Money Center
Like several times before in its history, the Oesterreichische Nationalbank faced problems of space again in the 1980s.
Following the decision to erect a new additional building in the close vicinity of the main building, architects and team of architects were invited to participate in an international design competition, and in October 1991, an expert jury decided in favor of the project submitted by Wilhelm Holzbauer. The primary objective was to build a utilitarian, well-functioning administrative and industrial building, which would authentically integrate into the district cityscape. June 19, 1998, marked the official opening of the Money Center, the Oesterreichische Nationalbank’s most recent architectural project.
