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Allianz Pushes Back Property-Buying Goals

AfE Turm Demolition
People watch as the AfE Turm, a former university building from the 1970s, falls during its demolition in Frankfurt yesterday. Photographer: Thomas Lohnes/Getty Images

Feb. 3 (Bloomberg) -- The AfE Turm, the 1970s university building blown up in front of about 30,000 onlookers in Frankfurt yesterday, will probably give way to two new skyscrapers as part of a plan to develop the city’s west.

ABG Frankfurt Holding, the property company that owns the site in the district of Bockenheim, plans to construct one tower with a height of about 140 meters (459 feet) as well as a 100-meter-tall building, spokesman Frank Junker said today by phone. Together, they will have about 90,000 square meters (969,000 square feet) of space.

AfE, a 116-meter property dating from 1972, was the tallest building in Europe to be demolished in a controlled explosion, Junker said. The spectacle, which took place at about 10 a.m. yesterday, was witnessed by about 30,000, according to police estimates. Eduard Reisch, the engineer responsible for the operation, gave an all-clear signal 15 minutes later, ABG said in a statement.

The site is part of the Kulturcampus Frankfurt, a project in which ABG plans to create offices, homes, a hotel and rehearsal rooms for musicians and dancers.

To contact the reporter on this story: Andrew Blackman in Berlin at ablackman@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

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