“Little Athens”: This is what Elenico’s new neighborhood will look like – a total of 1,500 homes by the end of 2027

A major redevelopment plan at Elinico is progressing rapidly.

At the same time, the huge demand for housing is starting to build Hellenicone’s last residential area, “Little Athens”, whose plans we saw yesterday at a press tour and conference in the area.

Apartments will be connected by shaded walkways, providing direct access to all that Elenikon has to offer within 15 minutes, while offering all the benefits of “Little Athens” The Elenikon. It specifically consists of ten building blocks, the first five of which are slated to be launched in the next period, and they comprise around 460 apartments of different types.

This was stated by Odyssias Athanasiou, Managing Director of Lamda Development Company The apartments range from 350,000 Euros to 50 square meters of one bedroom.

More broadly, Park Rise is expected to be the centerpiece of “Little Athens.” Designed by architecture firm BIG, the development will have 88 homes at a height of 50 metres.

Another building, in a new residential area, with 156 apartments is being carried out by the architectural office of Pavlos Satsiakelidis 314 Architecture Studio.

Following the same office near Alimos, he designs another building combination with rounded balconies and a single pergola on the ground floor, which creates special shading conditions and good elements of lighting and greenery. A total of 79 apartments, in all categories – from one bedroom to four – approximately 60 to 200 square meters.

Another view of the residential area is the building designed by the DEDA architecture office in Thessaloniki. Here we have 56 apartments with unique looks, vertical elements and various materials.

The last typology was designed by Solakis Architects. In it we see a narrow floor plan, with a large number of apartments per building, but again with a very strong element of the structure of open spaces to meet the needs of the residents. A total of 160 flats will be available for sale in the next period.

Mr. Athanasio clarified that despite the challenges of funding and the project, Elenico is progressing normally on schedule, which is due, among other things, to the full guarantee of the project’s financier. “We have issued two bonds, totaling 550 million and even with a fixed interest rate. With the pre-sale of assets and increase in share capital, Elenico will not need financing,” he said characteristically.

As indicated, a total of 8,000 – 8,500 houses will be created by Lamta Development in Eleniko, but this figure may change depending on the square footage requirement. However, by 2024, a total of 1,500 homes will be available for sale and will be completed by 2027. Also, Mr. According to Athanasio, 28% of homes have been sold to foreigners, which is expected to increase by one percent. In the coming months, the company will promote campaigns for residential projects abroad in 2024.

Lamda’s managing director, meanwhile, stressed how the company is focusing on building apartments in the tower used as Eurobank offices. “It is not an easy one, but based on the demand, we will move towards this solution,” commented Odysseus Athanassiou.

We remind you that Piraeus Bank and Eurobank are going to move their offices to Hellenikos, although the deal has not gone ahead. In their all-inclusive tower, the two banks will actually become offices, but due to high demand space will be allocated to create around 45 apartments on 15 floors.

Greece: How the rest of Lamta Development’s infrastructure and building projects are progressing

One of Elenicos’ most important infrastructure projects is the undergrounding of the 1.5-kilometer Poseidon Avenue, which will help reduce traffic congestion in the coastal area. Already 70% excavated, the project will be completed by 2025.

Another important infrastructure project is the development of the 3 km long Trachona stream aimed at preventing flooding. Here, 60% excavations have been completed while the project will be completed in the fourth quarter of 2024. At the same time, the largest-scale clean-up ever undertaken in Greece is underway. In total, contaminated land associated with 14 Olympic-sized swimming pools has been cleaned up, with the project expected to be completed next December.

As well as the construction of a huge and modern shopping centre, work has begun on coastal residential developments and a sports centre. In the next few months, work will begin on the construction of the Riviera Galleria and the restoration of the 1.5 kilometer long public beach.

It may be recalled that the buildings of four differently abled societies have been completed and provided with full facilities.

The foundation of the Riviera Tower is finished with the longest, continuous concrete slab ever made in Greece.

Noted for being the first green residential skyscraper in Greece and the tallest in the Mediterranean, at 204 meters high and 50 stories tall.

After the completion of 111 piles at a depth of 50 meters, concreting work took place. Now the reconstruction work has started. Indeed, by the end of the year the construction was visible from Posidonos Avenue.

The iconic building will be completed in the first quarter of 2026.