The entire Faliro waterfront region, from the Peace and Friendship Stadium to the Kifissos River estuary in southern coastal Athens, will be fundamentally changed as envisioned by architect Renzo Piano, the author of a three-million-euro study sponsored by Stavros Niarchos Foundation. The masterplan of the endeavour was presented to Prime Minister George Papandreou on Wednesday.

The major urban regeneration project will turn a 76-hectare tract of land into a park, which combined with the old racehorse track will cover a total of 100 hectares.