Finally, filmmaker Michael Cacoyannis’s dream to establish a cultural foundation seems to be turning into reality. Just last week, on January 4, an agreement for the construction of the new Michael Cacoyannis Cultural Foundation at 206 Pireos was signed with the J&P-AVAX Company, with an estimated overall budget of -9.67 million. In reality, the project (undertaken by Vassilis Sgoutas’s architectural office) is already under way, since the old factory that used to be in that location has been demolished and digging has started for the underground parking, which will have room for 53 cars. The cultural center will comprise a theater seating 314, complete with its stage and all the adjacent auxiliary quarters, a 115-seat cinema, an experimental screening hall with 68 seats, an exhibition hall, three foyers connected by the three-story atrium, an indoor restaurant which can also be extended outdoors and offices. Both the theater and the main movie theater will be equipped to host a variety of events. «In two years at the latest we will be totally ready,» said Cacoyannis, looking pleased. «And even earlier,» he added. He said that he envisaged the center as a place that can attract young people from 11 in the morning until the evening. The center will welcome experimental performances and will lay emphasis on education. Its screening halls will host tributes on a monthly basis. Once it starts operating, Pireos Street will strengthen its cultural-alternative character, from the Benaki Museum’s new annex to the School of Fine Arts and the Hellenic Cosmos building.