The space was left after the Buda Savings Bank, housed in a palace designed by the famous Hungarian architect Miklós Ybl, was demolished because of damages during the war and the transformation of the square into a roundabout. All that was left of the splendid palace was a two-storey arcade, which lent a bit of romantic atmosphere to the neighbouring Lánchíd Pub. But the arcade disappeared after the change of system in Hungary, and for 17 years, there has been an ugly hole on the square, visible from Pest as well as Buda and the Castle District. Architecture students of all nationalities have attempted to fill in the gap, which is made all the more difficult by the way the square has been designed. Tenders have been called, but the site still stands empty.
The owner of the site, Unione-Clark Kft., recently decided to call an open competition to determine the look for a hotel to be built in the gap. Submissions evaluated by a professional jury. Architects submitting tenders had to pay close attention to functional, technical, parking and a number of other parameters. The goal of the tender was to create a real landmark for the city, one which expresses the 21st century and is in line with the tastes of the younger generation.
Unione-Clar aims to make a unique plan based on the seven submissions which fits in with the city's skyline and serves the function of the hotel.
