Brussels, 29 October 2024
The EU Commission has approved an initial €93 million from the Cohesion Fund (CF) to support the regeneration of a 540-hectare waterfront park along Faliron Bay, Athens. The investment will transform the city’s waterfront into a green, inclusive, and vibrant space, in line with the New European Bauhaus principles, and has the potential to increase tourism, boost revenue for local businesses, and stimulate regional economic growth. The project is expected to be finished by the end of 2028.
The Park will be open to the public free of charge, with funds being used to make the waterfront more visually attractive and appealing and to transform the area into a hub for activities. Swimming pools, themed playgrounds, event spaces, and a sports centre will be built, with installations used for the 2004 Olympics repurposed and displayed along the Bay. The space will be used for several educational and cultural activities.
The Park and its activities will be fully accessible to people with disabilities, and through the modernisation of roads, tram networks, and footpaths, will be connected to neighbouring areas. Thanks to the implementation of drainage networks and rainwater collectors, Funds will also support the waterfront’s flood protection capacity. More than 2,900 trees will be planted, while renewable energy sources will be integrated into the Park’s energy mix.
EU support will overall improve quality of life for residents in Athens, who can now enjoy the Park’s educational and cultural activities and many facilities.
Commissioner for Cohesion and Reforms Elisa Ferreira said: “The Faliron Bay Park will be a new highlight and tourist attraction for the city of Athens. The green space will connect people of all ages, and residents will have access to sporting, educational, and creative activities. The project inspired by the New European Bauhaus initiative will set a perfect example of how urban investments can be designed in a sustainable, aesthetic, and inclusive way.”
Source – EU Commission