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A foundation stone laying ceremony for the Paseo de Pereda project took place on Thursday 20 May. The project will give new life and purpose to Banco Santander’s historic headquarters allowing it to take on a more active part of the city’s social and cultural life. The building will become the new home for the Banco Santander’s art collection and a place of changing exhibitions and events. A public rooftop terrace will serve as a meeting point overlooking Santander Bay.

The ceremony was led by Ana Botín, Chair of the Santander Group, in the presence of the President of Cantabria, Miguel Ángel Revilla, and the Mayor of Santander, Gema Igual. In a virtual appearance, David Chipperfield spoke about the renewed appreciation for the role of cultural institutions as a place for dialogue and encounter, and the role of architecture in facilitating the connection between the programme and its community. The project is due to complete in late 2023.