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The area was bought by the shipyard Akers Mekaniske Verksted in the mid 19th century, who planned to build a drydock there. Instead, it was bought by the municipality in 1914, and transferred to the port authority in 1919. They built docks and artificial land, increasing the area from 5 to 33 hectares (12 to 82 acres). From the 1960s, Fred. Olsen & Co. rented the docks, and from 1971 Nylands Mekaniske Verkstad had a shipyard on the spot. Since 1982, the area has been used for office space, terminals and warehouses. The Norwegian National Academy of Ballet was located there.
Since 2005, the area has been sold to private developers, who are conducting an urban renewal with housing. The area will have about 1,200 apartments by 2012. It is part of the Fjord City urban renewal program. This program has seen the opening of several art galleries, amongst them the Astrup Fearnley Museum of Modern Art and the Gallery Haaken.
The first element is tjuv 'thief', the last element is the finite form of holme m 'islet'. (The islet was later turned into a peninsula because of post-glacial rebound.) Thieves were executed here in the 18th century. An older (Danish) spelling of the name was "Tyveholmen".
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- "Oslo's Urban Renewal". DestinAsian. Retrieved 23 March 2014.
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