The photo shows the new train station in Chernivtsi, built between 1907 and 1909. It was opened in 1910 and and replaced the old train station, built in 1866, which stood right next to it and can still be seen on the left edge of the photo.
The new train station was built by architekt Elling in a kind of secessionist style.
The photo must have been taken right after the completiton of the building in 1909, with the street in front of it still under construction.
In 1866 the railway line between Lemberg (Lviv) and Chernivtsi was opened, connecting the Bukowina with the European railway network. In 1869 it was extended to Suczawa (Suceava) in the southern Bukowina, later to Romania.