The Department of Architecture at the University of Cyprus is to be relocated at the historic Phaneromeni school within the walls of old Nicosia and that’s a fact, Philenews reported on Wednesday.
The Finance Minister has confirmed the imminent move with Constantinos Petrides also disclosing that a relevant memorandum will be signed within the coming weeks.
The signing will take place between the Finance Ministry, the Cyprus Archbishopric which is the landlord, the Nicosia Municipality and the University of Cyprus.
The relocation will pave the way for incentives – social and economic – that will transform the run down area into a vibrant student campus Perides said.
The area has become almost a ghetto for impoverished foreign migrants and other nationals but the relocation means student housing and a plethora of new services that will transform it.
Petrides also said that the maintenance of the impressive Phaneromeni building alone will cost some €5 million. This provides for an anti-seismic upgrade, a new layout, etc.
The school will be rented out to the state by the Archbishopric for at least 33 years for the best use of the University.