Close to the waterfront in the centre of the old town (Altstadt) in Greiz is the Unteres Schloss – a more modern replacement for the older Oberes Schloss up the hill. This Neoclassical building sits on the site of an older residence which burnt down in 1802. Today the building houses an academy of music, as well as a regional museum occupying some of the smart rooms which overlook the river. It contains the standard city model, showing Greiz in 1899, as well as many displays on the history of the town and its textile industry.