The future of a glitzy coastal resort at the former Hellenikon airport has been thrown into doubt as plans to build a waste management facility look set to be scrapped.
The Minister of Finance, Mrs. Nadia Valavani, was informed by the Deputy Prefect of South Athens, Mr. Christos Kapantais, on the request of the municipalities of Glyfada, Alimos, Argyroupoli,Hellenikon and Paleo Faliro, regarding the concession of about twelve acres in the area of the former airport for the construction of a waste management facility.
For about six decades Hellenikon was Athens’ only airport, the terminal building was designed by star Finnish architect Eero Saarinen who has also designed the TWA Terminal at New York City's JFK International Airport.
Hellenikon closed down in 2001 to make way for a newer, more modern airport before the city hosted the 2004 Olympic Games. The former airport was converted into an Olympic complex consisting of 5 separate venues - including basketball, baseball and softball stadiums, a fencing hall and a state-of-the-art canoe/kayak slalom center.
Situated on Athens' southern suburbs it stretches across 6.2 million square meters nearly twice as big as New York's Central Park and featuring 3 km of Mediterranean coastline Hellenikon represents a huge commercial project for investors.
After languishing for years as a wasteland of crumbling terminals and Olympic venues, Hellenikon was set for resurrection as a glitzy coastal resort.
Lamda Development, controlled by Greece’s powerful Latsis family and leading a consortium of Chinese and Abu-Dhabi based companies, supposedly acquired the site on 20014 for €915 million from the government.
The group aspired to invest €7 billion to turn Hellenikon into a glamorous seaside resort that will include luxurious hotels, residential skyscrapers, business and shopping centers, a marina, an aquarium and a giant park.
So far, that money hasn't been transferred, the site remains in dusty disrepair, and Lamda potentially has years of bureaucratic hurdles ahead before the first shovel of dirt can be moved.
(IBT,WSJ)