As a new, third place, it brings urban vibrancy to this part of Frankfurt's old town. The building was acquired in 2022 and the land was leased from the city of Frankfurt under a hereditary building right. In 2045, the Crespo House will revert to the city of Frankfurt, which will continue to use it as a cultural venue. The commercial building was constructed in the 1950s by architect Ferdinand Wagner and will be renovated and converted in accordance with historic preservation guidelines by the architectural firm Schmidt Ploecker starting in 2023. The scenography of the Crespo Open Space was designed by Michel Müller (STUDIO MC Darmstadt). The Crespo House strikingly connects people, eras, and perspectives. While the façade closely follows the original, the new, large open staircase sets the tone: it opens the house to the medieval Carmelite monastery and to the urban community, leading into the open space with cultural and artistic formats. It is a glass workshop and hub for a network of diverse actors, a place for encounter and exchange, art, learning, and creativity. Artists, project participants, partners, and the urban community come together here for readings, lectures, concerts, and exhibitions. Funding partners and in-house programs use the spaces for program work, workshops, and educational formats. The idea for the Open Space goes back to its founder, Ulrike Crespo (1950-2019), who advocated and worked to connect art, cultural education, educational opportunities, and empowerment.