The buildung was completed in 1877 as Deutsche Grundkreditbank - built by the architect Ludwig Bohnstedt - then rather successful (he won among others the competition for the german Reichstag). It is concidered to be an early example for administraton buildings of the late 19nth century and is of high preservation value.

1993-1995 the building that served during pre-unification times as special school for finance economy was rebuilt as seminar building and library. The reconstruction focussed on cost efficency, functional aspects and the preservation of existing high architectural qualties.