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The Töölö building represents a functionalist style. The design of the premises of the building, completed in 1950 (inaugurated on 2 April 1950), was carried out by architects Woldemar Baeckman and Hugo Harmia and interior design by interior designers Olli Borg, Ilmari Tapiovaara and Maija Heikinheimo. The building's acoustics was designed by Paavo Arni. The brick wall and Michael Schilkin's reliefs also link architecture to the romantic trend of the 1940s. The building is part of the Docomomo International Register, a site for modern architecture.
The building will be renovated after the School of Business relocates to the Otaniemi campus in February 2019. After the renovation, it will include the meeting place and restaurant of Aalto University and its partners. The main tenant is Aalto University Executive Education, which offers training for business management and experts. The halls of the building are strictly protected, but the building services technology is completely renovated. The work will be completed by the end of 2020.