In the very heart of Athens—where for decades the capital’s commercial heartbeat pulsed—an architectural landmark is preparing to open a new chapter. The Arsakeio Mansion, with its heavy cultural legacy, is undergoing a bold revival, one that could reshape the wider downtown area.
At a time when central districts such as Omonia Square and Stadiou Street are experiencing their own “second chance”—with the legendary Minion department store slowly returning—the Arsakeio Arcade seeks to reclaim its place in the city’s urban life and reintroduce itself to Athenians and visitors alike.
Behind the ambitious project is Legendary Foods, led by entrepreneur Panagiotis Triantafyllopoulos, which leased the property from the historic Philekpaideftiki Etairia (Educational Society of Athens).
“We needed to create a bridge—a space where producers and creators could meet the public. A place that brings Greek Mediterranean food and culture back to the center of Athens,” Triantafyllopoulos told To Vima.
A Three-Wing Transformation
The redevelopment of Arsakeio is structured into three major wings, each with a distinct role:
- The Retail Wing (Stadiou Street), featuring the neoclassical façade of architect Ernst Ziller, has already opened with flagship stores including Nike, BSB, Lacoste, and The Bostonians. Early sales figures are said to be very encouraging, with full operation targeted for early 2026.
- The Culture Wing (Pesmazoglou Street) continues to host the historic Art Theatre, while a new multi-purpose cultural space is planned for the building’s atrium. The revival of the Educational Society’s Free University is also on the agenda.
- The Gastronomy & Culture Wing, branded simply as “STOA” (Arcade), will become the centerpiece. With leases signed and interior work nearing completion, this unified concept is designed to open all at once.
What STOA Will Offer
At its core, STOA will celebrate Greek Mediterranean flavors and traditions:
- Stoa Agora – a modern marketplace stocked with 4,000 product lines.
- 11 themed restaurants dedicated to regional Greek cuisine.
- Communal dining areas and classic full-service restaurants.
The goal? To attract 8,000–10,000 daily visitors.
“This is more than cultural branding—it’s an economically sustainable project,” says Triantafyllopoulos. “The confidence of banks, suppliers, and tenants shows its strength. People in the neighborhood are excited—Stadiou Street has lit up again.”
Collaboration Behind the Scenes
Reviving such a complex site was no easy task. The project required collaboration between architects, engineers, historians, and business leaders, as well as major financial resources. Legendary Foods has invested €20 million, with additional millions from individual tenants.
For Triantafyllopoulos, the vision grew out of his early years as a banker, listening to the struggles of farmers and food producers. He was struck by the paradox: Greece’s land was rich, yet its products were not reaching consumers as they should. What was missing, he believed, was a space where producers and creators could meet the public directly.
More than ten years have passed since that initial idea—six of them devoted solely to licensing and construction.
A New Meeting Point for Athens
The team’s ambition is to make the Arsakeio Arcade once again a place of connection—accessible both geographically and economically. Not an exclusive luxury, but a daily stop for Athenians and a delightful discovery for visitors.
“When someone walks into the Arcade, we want them to feel they’re entering another world—full of light, taste, and culture. We want them to leave richer, not only in experiences but in emotions,” says Triantafyllopoulos.
With its mix of commerce, culture, and cuisine, the reborn Arsakeio promises not only to restore a landmark but also to help re-energize the very soul of downtown Athens.
