Plans have been unveiled for a residential project set to become the tallest building in Greece have been unveiled by Foster + Partners, the company responsible for developing what is being called the “Ellinikon Masterplan” at the site of the old Athens International Airport.
Located in Ellinikon, on the outskirts of Athens, the 650-foot-tall Marina Tower project is part of a larger development plan that will transform the site of the former airport into a thriving residential, shopping, working, leisure, entertainment and cultural center built around what will become the largest coastal park in Europe.
The 200 units of the tower will feature various water elements and extensive greenery with a strong focus on natural light and ventilation, seeking to embody the character of the Greek coastal landscape.
Demand has been so strong that all of the apartments in the 45-floor tower will be sold by the beginning of next year, if not earlier, according to Odisseas Athanasiou, Chief Executive Officer of Lamda Development SA, the project’s developer, in an interview with Bloomberg.
The company has already secured more than $820 million in deposits with prices starting at $650 per square foot. Rates are expected to reach more than $1500 per square foot by 2025, which would be the highest in Greece and comparable to the likes of exclusive residential properties in cities like New York City, Shanghai and Geneva.
According to the architects, the project is set to be “the first green high-rise building in Greece” and “a model of sustainable design, incorporating best environmental practices and cutting-edge international safety protocols”. Upon completion, the building will be one of six tall structures developed within Ellinikon.
“Ellinikon masterplan gives new direction to urban development in Athens, bringing together new ways of living, working and playing, centered on a metropolitan park – a generous amenity for local communities and the city of Athens,” said Foster + Partners senior partner Antoinette Nassopoulos-Erickson in a press release. “Our proposals for Marina Residential Tower build on these sustainable principles to generate a new paradigm for high-rise living and a green beacon in the landscape.”
Developers say it’s not only about the masterplan of the property itself, but what it will do to the country. Overall, estimates say it could add as much as 2.2% to the country’s economy and 80,000 jobs by 2025.
The full presentation of Marina Tower is here:
