Beginning in the 1690s, the Prussian Academy of Arts, under various names, served as an arts council and learned society for the Prussian government. Founded by the Hohenzollern elector Frederick III (King in Prussia from 1701), it was the third-oldest such academy in Europe. The institution was housed on No. 8 Unter den Linden, until from 1902 the site was cleared and rebuilt as seat of the Berlin State Library. The Academy then moved to Pariser Platz next to Hotel Adlon, where the Palais Arnim, former residence of Prime Minister Adolf Heinrich von Arnim-Boitzenburg, was refurbished according to plans designed by Ernst von Ihne.