The planning of the Double Renovation envisages the largest zoning and urban planning intervention in the post-war history of Athens and the largest project ever implemented by the Municipality of Athens. In its first phase, which began today, after a 12-year disinvestment in the core of the city due to the economic crisis and a series of years of frustrations and obstacles, the image of the Botanical Garden will change.
A new sustainable city in Votanikos
Mr. Bakoyiannis did not fail to refer to today’s “harsh reality of Eleonas”, after decades of abandonment and indifference, which led to anarchic construction, lack of basic infrastructure, empty and unused plots, piles of rubble and garbage, lawlessness, and few residents. A reality that will change drastically thanks to urban consolidation, the creation of new green spaces and the investment of hundreds of millions of euros.
As has been announced, a total of 267 million euros of public, European and private funds will be invested in the Double Renovation, while it is estimated that 470 million euros of private funds will be mobilized.
A mirror of the dynamics of Athens
The road to the announcement of the international open tender for the study and construction of the new Panathinaikos stadium was opened ten days ago with the approval of the modification of the project’s environmental conditions. This includes milder urban dimensions in favor of green spaces.
As Mr. Bakoyiannis reaffirmed, the timetables to which the municipal authority has committed are being adhered to strictly, in order for a modern and functional stadium to be erected in Votanikos in 2026, which will fulfill the FIFA/UEFA specifications with a capacity of at least 38,500 and up to 40,000 seats. Also, the arena will include 1,300 seats in suites, 325 parking spaces and 7 shops.
Meeting the specifications of state-of-the-art stadiums in terms of infrastructure and technology, the new stadium aspires to become a landmark for the city to attract visitors and families not only for the matches, but also for sightseeing and entertainment.
The construction budget of the project amounts to 123 million euros including VAT. The financing of the project comes from the Public Investment Program and the Recovery Fund. As the Mayor commented, answering journalists’ questions, the funding is secured and no involvement with DGComp, i.e. the Competition Directorate of the European Commission, is expected.