The way was opened for her Double Regeneration and Panathinaikos stadium at the Botanical Garden, which is estimated to be the most emblematic work of recent years in the urban fabric of Athens.
Its members Amateur Panathinaikos voted in favor of the Double Regeneration at a rate of 68.5%, giving the “green light” in order to start this large-scale spatial and urban intervention, which will lead to the creation of two supra-local – metropolitan leisure, sports, cultural and other complementary functions on Alexandras Avenue and the Botanical Garden of the Municipality of Athens.
“History was written tonight”said Mr. mayor of Athens Costas Bakogiannisafter the announcement of the result of the vote.
Large-scale urban intervention provides for:
• Creation of a free green space, a locker room, a sports museum and an underground parking lot on Alexandras Avenue
• In the Botanical Garden, the creation of a football field of up to 40,000 seats of international standards of FIFA / UEFA 4 stars, sports facilities of the Amateur Panathinaikoś, sports facilities of the Municipality of Athens, green spaces and urban infrastructure.
The new Panathinaikos Stadium in numbers:
– Up to 40,000 spectator seats
– 1,300 seats in suites
– 325 underground parking spaces
– 7 commercial stores
The Greek National Men’s and Women’s National Team will also be able to compete in these facilities.
Two bilateral and one tripartite agreement, between:
1. Municipality of Athens and Amateur PAO
2. Municipality of Athens and PAE PAO
3. Municipality of Athens – EEPA Eleonas – Amateur Panathinaikos
Each contract commits the parties involved to implement everything provided in it.
ANALYTICALLY:
1. The concession agreement between the Municipality of Athens and PAO Amateur includes:
BOTANICAL WORKS
Soccer field (up to 40,000 FIFA / UEFA 4-star international standard seats)
The Municipality assumes the responsibility and the procedures for the implementation of the Stadium (securing funding, contributing to the issuance of necessary permits and approvals, bidding for the project).
Through the contract, the Municipality of Athens grants to the Amateur PAO. the use of the Stadium (with all its annexes and the rights of use of the sports facilities within it́ for 99 years from the completion of its construction). It is noted that this concession does not include the commercial uses of the Stadium (restaurants, canteens, suites and any other recreational area that does not host sports activities).
A percentage of 15% on ticket revenues and the operation of the stadium’s advertising space will be paid to PAO Amateur for 49 years. This period may be extended by a joint decision of the Minister of Finance and the Minister responsible for Sports.
PAO Sports Facilities (7,500 sq.m.)
The Municipality of Athens grants to PAO the use of the relevant area, as well as the facilities and other spaces that will be erected there ́ for 99 years from the completion of their construction, as well as the right of their naming.
WORKS ON ALEXANDRA AVENUE
1. Demolition of existing sports facilities
After the completion of the construction of the Stadium, the sports facilities of PAO. and the beginning of their operational use, the P.A.O. undertakes the obligation to leave the premises of Alexandra Avenue and hand them over to the Municipality of Athens (the demolition permit is issued immediately and is valid for 10 years)
2. Sports Museum – Lounge, recreation and dining area 680 sq.m. for the PAO
3. In case of construction of an underground parking space, the Municipality of Athens will have the obligation to grant to PAO. the right to use 15 underground parking spaces for 99 years (free of charge).
2. The contract for the concession of commercial uses of land, between the Municipality of Athens and PAE PAO. includes:
COMMERCIAL FIELD USES
The Municipality of Athens as the owner of the Stadium grants – by law the commercial uses (suites, canteens, boutiques, etc.) within this Stadium – to PAE. Π.Α.Ο. for a price.
The Municipality grants ́ to PAE. Π.Α.Ο. the right to name the Stadium.
For the concession of the exploitation of the commercial use spaces, as well as the right of naming the Stadium, a financial consideration is agreed from PAE PAO. to the Municipality.
Minimum Annual Guaranteed Income of other commercial uses for the Municipality of Athens (from PAE PAO): It will amount to the amount of € 270,000 per rental year, which will be adjusted annually according to 50% of the index.
Total – minimum Guaranteed Revenue for the Municipality of Athens and the Greek State: 415,000 € per year (145,000 € from the suites + 270,000 € from the other commercial uses – the amounts are documented by the report of an independent financial appraiser).
3. The contract for the implementation of the program between the Municipality of Athens, Eleonas GDP and PAO Amateur, provides:
– The construction and financing of the sports facilities of the PAO Association, of an area of 7,500 sq.m., on a plot owned by the Municipality of Athens. Eleonas GDP undertakes, among others, the following commitments:
- To construct the sports facilities of the PAO Association.
- To pay the costs of issuing building permits for the sports facilities of the PAO Association.
- To pay the expenses, in order to build the sports facilities of the PAO Association.
For its part, the Panathinaikos club undertakes, inter alia, the following commitments:
- To cooperate both with the GDP of Eleonas and with all the other implementing bodies of the Double Regeneration Program, as well as with each involved administrative authority for the construction of its sports facilities.
- To immediately promote any necessary procedure of his competence.
Finally, the Municipality of Athens undertakes, inter alia, the following commitments:
1. To take care of the promotion of the study and construction procedures of the infrastructure projects and of the general configurations in cooperation with the competent bodies.
2. To design the necessary green spaces at his own expense.
3. To promote without delay any necessary procedure of its competence.
4. To receive from AEP Eleonas the sports facilities of the Association PAO. as soon as he receives his consent, as the owner of the property on which they will be erected.
State-of-the-art sports facilities – standard according to the specifications of the Amateur:
– Central arena of 3,100 seats for volleyball, basketball, futsal, wheelchair basketball, handball, instrumental gymnastics.
– Outdoor swimming pool of Olympic dimensions, with a shelter of 500 places for swimming, diving and water polo.
– Sports gym for 200 seats with uses of amphitheater and event hall.
– Underground parking for 125 places.
– Association Offices, boutique, cafe, restaurant.
– Training centers for individual competitions.
– Weightlifting, wrestling, boxing, fencing, table tennis, archery, shooting, training for the disabled, strengthening gyms.
Infrastructure and common areas
A total of 140 million euros have been committed and will be invested in Eleonas from the funds of the Recovery and Resilience Fund: In utility networks, in the green, in the Agricultural University, in lighting, in parks, on the roads, in incentives for relocation of transport companies, on sidewalks .
Infrastructure in numbers:
4,479 meters of road opening
3,343 meters of widening of existing roads
7,822 meters of public spaces (sidewalks, islets, tree planting)
9,225 meters development and installation of networks (rain, lighting, etc.)
600 meters restoration of the riverbed of the Prophet Daniel
2,200 meters of redevelopment and construction of a bicycle path
Total budget: 40.840.495 €
The common areas in numbers:
Yield in common use: 92,200 sq.m. which are currently occupied by the Naval Fortress, of which 74,000 sq.m. relate purely to green spaces.
Green 75,000 sq.m. configurations of common green spaces.
Regeneration, consolidation and infrastructure in the area of Eleona of the Municipality of Athens.
138,500 sq.m. which fall within the area of the Double Regeneration (the 101,875 sq.m. are formed purely in green areas).
235,600 sq.m. common green space that will additionally arise after the Implementation Act under preparation.
Total budget: 55,909,048 €
The allocation of resources
A total of € 267 million is invested in public, European, national and private resources:
– € 140 million from the Recovery and Sustainability Fund. Of these, 97 relate to projects of the Municipality (42% for infrastructure – 62% for green projects), while the remaining 43 million euros will be allocated by the state for relocation incentives of transport companies and for renovation projects of the Agricultural University of Athens .
– 115 million euros from the PDE for the Stadium, as publicly committed by the Government.
– An estimated 12 million euros from the GDP of Eleonas for the facilities of the Amateur.
Also, the estimate for mobilizing direct private investment in the region amounts to about 470 million euros (based on a report by an independent financial assessor).
At what stage is the auction of the Stadium
The studies of the Stadium have been prepared by PAE. Π.Α.Ο. and have been delivered to the Technical Services of the Municipality. Based on these, the tender documents are already being prepared, in accordance with the provisions of article 50 of Law 4412/2016.
According to the studies, the construction cost of the Football Stadium up to 40,000 seats, is estimated at 115,000,000 €, an amount which has been secured by the Public Investment Program of the Ministry of Environment and Energy, while the projects related to the surrounding area of the Stadium, but and infrastructure in the greater Eleonas area, are expected to be funded by the Recovery and Resilience Fund (RRF).
Specifically, the preparation of a traffic impact study for the construction of the Stadium has been completed and has been submitted to the competent Ministry (YPOMEDI) for approval. This study will accompany the environmental licensing of the Stadium by the co-responsible Ministry of Environment and Energy. Given that the Stadium has a building permit, the approval of environmental conditions “opens” the way for its auction.
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