Hines gets approval to build the new Leroy-Merlin store in Athens
The ministry of culture has approved the development of the new Leroy-Merlin building, on Kifissou Avenue, in Athens.
The development needed the approval of the Ministry of Culture because the property next to it, the Lanara-Kyritsi Cotton Mill building which
has been designated as a monument.
This property was originally intended to turn into the Academy Gardens Mall by Blackrock. After many years of red-tape, when the project was finally licensed, it was deemed unprofitable as the financial environment in Greece had dramatically changed after the long financial crisis.
The Ministry's approval includes very detailed architectural requirements as well as technical requirements in order for the building under development to be adapted to what the Ministry considers to be major for the neighbouring monument.