Stock Photo - 16 August 2022, Saxony, Chemnitz: Project manager Mike Kohllöffel (center) explains the construction work on the former Kulturpalast in Chemnitz to journalists. The cultural monument will be renovated at a cost of 25 million euros by summer 2024. The Leipzig-based construction company GRK Immobilien is building 64 apartments with around 5700 square meters in the building. GRK specializes in the renovation of listed buildings and purchased the neoclassical monumental building in 2018. The Palace of Culture in Rabenstein is considered the first of its kind in the GDR. It was built on behalf of the uranium mining company Wismut and inaugurated in 1951. It offered a theater hall with almost 1000 seats. Later, the building was used by GDR television. Photo: Hendrik Schmidt/dpa. - Chemnitz/Saxony/Germany