Twenty buildings have been slated for renovation in the area stretching from the Peace and Friendship Stadium (SEF) to Anavyssos, paving the way for a revamp of the southern Athens coast to enter its first leg.
Attiko Paraktio Metopo (Attica Coastal Front), the company tasked with the revamp, will renovate a stretch of 75 hectares from SEF to Faliro Bay in the first phase of the project. This part of the scheme is expected to cost 230 million euros, with funds coming from the EU-backed National Strategic Reference Framework.
The tender for the further completion of the revamp, which is linked to development of a large cultural park in the vicinity by the Stavros Niarchos Foundation, is expected to be decided in 2015.
According to Skai, however, the initial phase of the project may be subject to delays as ownership of several of the 20 properties ceded is being contested.