The Arsakeio Arcade in downtown Athens is to be renovated thanks to a 12-million-euro investment that will turn it into a culture and gastronomy center promoting a healthy lifestyle and local products, it has been announced.

Having housed the Arsakeio school for girls and more recently the Council of State, part of the building has also been home to a number of bookstores (Stoa tou Vivliou) and a large cafe offering classes and lectures. The owners of the building, who also run the Arsakeio schools and the Legendary Food company announced at a press conference on Tuesday that they want the building to become a top tourist destination in Athens.

Renovation work on the 11,000 sq.m. building complex is budgeted at nearly 12 million euros and will start in 10 months. The project is expected to create 500 jobs directly and 5,000 jobs indirectly.

Plans include stores with Greek products, olive oil and wine tasting workshops, cooking lessons for children, restaurants and major franchises.

Legendary Food was founded by two former bankers (Vangelis Kontzias and Panagiotis Triantafyllopoulos), brand strategist Peter Economides and businessman Aris Kefaloyannis, now serving as its CEO.

[ANA-MPA]