The Athenian seafront at Faliro, from the "stadium of peace and friendship" to the Kifissos estuary, is to undergo a complete environmental revamp, as part of a plan by the Italian architect Renzo Piano, which will be financed entirely by the Stavros Niarchos Foundation.

The anticipated cost of the project is three million euros. The urban renovation project, the "masterplan" of which was presented to the Greek Prime Minister, George Papandreou, will cover an area of 76 hectares that will become 100 with the addition of the area of the old racecourse.

The bay of Faliro, where the city meets the sea, is the end point of Syngrou Avenue (known as "Culture Street" because it houses the National Contemporary Art Museum, the Academy of Arts and Letters and the Opera), and will be the setting for Piano's plans for the Stavros Niarchos Foundation's cultural centre, the national library and the Opera, as well as the renovation of the waterfront of Faliro Bay.

This ambitious project is a sign of economic vitality at a time of serious difficulties for Greece. The Italian architect has marked the plan by giving an interview to the Greek government's secretary general for information.

"The driving force behind the whole project is the principle of rebuilding the strong link between the city and the sea that was lost during the construction of existing infrastructure and the fillings carried out for the Olympics," Renzo Piano explains.

"This connection is rebuilt in both directions - from the city to the sea, with an extension of the existing urban fabric, and from the sea to the city, with green areas and tree-lined roads build along the main water channels, which lead to the large park that runs along the sea. The city needs to be reacquainted with this area, which is today both physically and psychologically segregated and through the three main connecting channels must rediscover its relationship with the sea".

Athens is a city with significant historical and cultural importance. How will the plan fit in with this? "The renovation of this stretch of coast is aimed at reconnecting the city with its waterfront and giving breathing space to a very dense urban landscape, taking the opportunity to upgrade where possible within the existing urban framework the areas that are not built up with small gardens, as if the presence of a large green lung were to fertilise the entire surrounding area.

This project is not about filling space but about empty space and is less about architecture and more about nature playing the main role, which is to allow the areas of Kallithea and Moschato to breathe".

"The history and tradition of a city like Athens have influenced our entire culture," Piano continues. "The power of its traditions is palpable throughout the city, despite the very rapid growth that the city has undergone since the end of the war. In the last few years, the city has begun to re-read its own history and is moving towards a new vision of the urban landscape, in which even modern architecture can play an essential role".