After the destruction of about half of the buildings in Operation Gomorrah by bombing during World War II, the conservative rebuilding was finished in 1967, while the Hanseatic Trade Center now occupies the sites of the completely destroyed structures. In 1991 it was listed as a protected Hamburg heritage site. Since 2008, it has been part of the "HafenCity" quarter. In an attempt to revitalize the inner city area, the Hamburg government initiated the development of the "HafenCity" area, for example with the construction of the Elbe Philharmonic Hall.