The building will comprise a new glass structure atop an existing brick warehouse built in 1963 by Hamburg architect Werner Kallmorgen.
The building will comprise three concert halls, a hotel, apartments, and a public square elevated 37 metres above the adjacent river Elbe.
Once open, the main auditorium at the heart of the building will accommodate over 2000 spectators.
We published visualisations of the Swiss architects' proposals on Dezeen last year - see our early story here.
Other projects by Herzog & de Meuron on Dezeen include a furniture showroom composed of five barn-like blocks and the proposed extension to London's Tate Modern art gallery - see all our stories about Herzog & de Meuron here.