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This paper presents the concept of a community-accessible stratospheric balloon-based observatory that is currently under preparation by a consortium of European research institutes and industry. We present the technical motivation, science case, instrumentation, and a two-stage image stabilization approach of the 0.5-m UV/visible platform. In addition, we briefly describe the novel mid-sized stabilized balloon gondola under design to carry telescopes in the 0.5 to 0.6 m range as well as the currently considered flight option for this platform. Secondly, we outline the scientific and technical motivation for a large balloon-based FIR telescope and the ESBO DS approach towards such an infrastructure.