This building was squatted in the late 90's to prevent it from being torn down and make space for a bicycle path. There was already one 60 meters ahead, so a group of people did the right thing to keep it. Now it functions as a place where independent sub-cultures get to do whatever they want.
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OT301 organizes parties that last until the morning. On Tuesdays, take your table tennis gear and participate in the famous table tennis night. Upstairs there is a cinema where they show movies from all around the world, sometimes in combination with a typical dinner from the country of origin. Just hanging out here is also highly recommendable.
There are still people living and working in the squatted building and they appreciate a little privacy.