The structure was replaced by the 8-storey Errikos Dunant Red Cross Hospital and the 11-storey Politeia Business Centre. The new developments were built lower than the demolished building, in keeping with the more recent building code.
Demolition took place on May 21, 1995.
Construction began in the early 1960's but was never completed due to an engineering error. The multistorey frame haunted the Ampelokipi skyline for years, before it was demolished in 1995.
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