The Stavros Niarchos Foundation is funding the Preliminary Master Plan for the regeneration of the Faliron Bay coastal zone

The Stavros Niarchos Foundation, in response to a grant request by the Greek State, has provided funding amounting to EURO €3 million for the carrying out of the Preliminary Master Plan intended for the regeneration of the Faliron Bay area (coastal front of Kallithea-Moshato-Paleo Faliro).

The importance of the redevelopment of the broader Faliro Bay area dictated the Foundation’s support. The grant is restricted to funding the Preliminary Master Plan only, and it is not related to the building of the Stavros Niarchos Foundation Cultural Center (SNFCC) at the adjacent site of the former horse racing track, which is fully funded by the Foundation.

The cost of the SNFCC approximates EURO €566 million, and it is the Foundation’s largest individual grant. The Stavros Niarchos Foundation Cultural Center will include the new buildings for the National Library of Greece, the Greek National Opera, which will be surrounded by the 170,000 m² (42 acres) educational and cultural Stavros Niarchos Park. The SNFCC is designed by renowned Italian architect Renzo Piano. The project’s time frame foresees the completion of the final architectural studies within the next couple of months, the beginning of construction in early 2012, and the completion of the project in 2015.

For more information about the grant and relevant resources, please click here.