Elias Hoel was a merchant, who as early as 1892, had started his own business. In 1901 he contracted to be built what is known today as the Hoel-corner. This wooden estate has survived many fires that have devastated this area, most recently in 1992. It is a two-storied building with a saddle roof, horizontal panelling and T-post windows. All of these features are in accordance with the Swiss style. The entrance is located on the bevelled corner facing Rikard Kaarbø's Square.