The "Dancing House" is set on a property of great historical significance. Its site was the location of a house destroyed by the U.S. bombing of in 1945. The plot and structure lay decrepit until 1960 when the area was cleared. The neighboring plot was co-owned by the family of Václav Havel who spent most of his life there. As early as 1986 (during the Communist era), Vlado Milunić, then a respected architect in the Czechoslovak milieu, conceived an idea for a project at the place and discussed it with his neighbour, the then little-known dissident Václav Havel. A few years later, during the Havel became a popular leader and was subsequently elected president of . Thanks to his authority the idea to develop the site grew.[citation needed] Havel eventually decided to have Milunić survey the site, hoping for it to become a cultural center, although this was not the result. The Dutch insurance company Nationale-Nederlanden (from 1991 till 2016 ING Bank) agreed to sponsor the building of a house on site. The "superbank" chose Milunić as the lead designer and asked him to partner with another world-renowned architect to approach the process. The French architect Jean Nouvel turned down the idea because of the small square footage, but the Canadian-American architect accepted the invitation. Because of the bank's excellent financial state at the time, it was able to offer almost unlimited funding for the project.[4] From their first meeting in 1992 in Geneva, Gehry and Milunić began to elaborate Milunić's original idea of a building consisting of two parts, static and dynamic ("yin and yang"), which were to symbolize the transition of .Czechoslovakia from a communist regime to a parliamentary democracy

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