HafenCity, which translates to Port City, is an area in central Hamburg that used to be part of the free port. With the decrease in the importance of the free port, the area dominated by port activities has reduced in size. The city of Hamburg is now developing this area for mixed residential and commercial use. Many of the warehouses are being replaced by apartment buildings, office buildings, hotels and shops, and it is estimated that there will be approximately 6,000 new homes and 45,000 new jobs when it is all completed. At 388 acres, HafenCity is the largest inner city development project in Europe.
Aside from the commercial and residential buildings already finished and in use, the International Maritime Museum of Hamburg has moved into HafenCity. Another big project currently underway is the construction of the Elbphilharmonie Concert Hall, the home of Hamburg's philharmonic orchestra. HafenCity also encompasses the historical area of Speicherstadt, the largest warehouse complex in the world. Within Speicherstadt, you will find several museums and attractions, such as the Hamburg Dungeon, Miniatur Wunderland, and the Speicherstadt Museum. There are also plenty of shops, cafes and restaurants already open in HafenCity, as well as parks and recreational areas.