Located in the Regina Elisabeta Boulevard, in the historical and trade center of Bucharest, and bordering on Cismigiu Park, the oldest park of the city, the building is one of the most important landmarks of Bucharest architecture from the early 20th century. It housed for many years the famous Hotel Cismigiu and the Gambrinus brewery. The event of uncovering the new facade was a historical milestone taking place exactly one hundred years after the first opening in 1912.
The renovation works started three years ago in September 2009, with a total investment of EUR 15 Mio for a total gross floor area of 9.790,88 square meters. The new project envisages a mixed use for the building, including commercial premises in the ground floor, offices in the mezzanin and first floors, and a 4 stars superior hotel of 60 rooms in the second, third, fourth and fifth floors. A new underground parking area will offer 36 parking spaces.
The prestigious Instituto Cervantes will occupy a part of the ground and first floors and the whole mezzanin floor.
Hercesa launched its activity in Romania in 2004 with the purchase of the Cismigiu Building. At present it has completed 420 apartments in the project "Vivenda Residencias" and plans ca. 5.100 new apartments in three projects located in different areas of the capital city of Bucharest: "Vivenda Residencias", in the area of the Basarabia Boulevard; "Ghencea", in the area of Prelungirea Ghencea; and "Estellas Residencias", in the area of Souseaua Orhideelor.