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Palacio de la Música will reopen almost 20 years later
Palacio de la Música is preparing its return to Gran Vía after almost twenty years closed. The building, shut since 2008, will again have cultural use and hopes to recover the vitality that made it a regular stop for several generations of Madrid residents.
The reopening is planned for around 2026, coinciding with the building’s centenary. The idea is for the former cinema and concert hall to light up again as a venue for music, theatre, exhibitions, conferences and other cultural formats right in the centre of Madrid.
The building, designed by Secundino Zuazo and opened in 1926, forms part of Gran Vía’s urban memory. For years it was a meeting point for people going to the cinema, attending concerts or simply walking along an avenue where major cultural buildings set the city’s rhythm.
The refurbishment project gained momentum in 2020, when the Ayuntamiento approved Fundación Montemadrid’s proposal. That renovation envisaged restoring the building’s cultural vocation, with a large multi-purpose hall, food and drink spaces on the top floor and a new visual relationship with Gran Vía.
The process, however, has been long and full of uncertainty. Although the building permit was granted, the contract for the refurbishment was still pending and the foundation was studying different management models to make the building’s recovery viable.
The most recent change came with the sale of the Palacio de la Música to the Swiss investment group Zephyros. The new owner has announced a thorough renovation over the next three years, intending to turn the space into a new-generation cultural centre without erasing its historical and architectural value.
The plan includes a main auditorium with advanced technology for concerts and shows, a multi-purpose room on the upper floor for events and catering, and an opening towards the avenue through glazed screening on the balustrade. The combination of culture and complementary uses seeks to sustain the building’s activity over the long term.
The return of the Palacio de la Música could change more than a façade on Gran Vía. Recovering a building that has been closed for almost two decades means bringing life back to a key stretch of the centre, adding cultural programming and reconciling Madrid with one of those places that remained in people’s memory, even though its lights had been out for years.