The investment is being carried out by Ermou 98, a company owned by the Barmpalias siblings — Giorgos, Eleni, and Foteini — who, approximately six months ago, increased the company’s share capital to €861,000. This initiative is part of a broader development strategy aimed at the revitalization and upgrade of urban areas with significant historical and cultural value, such as the Psyrri district.
The project concerns a complex of four buildings, one of which has been classified as a preserved structure by a 1993 decision of the Deputy Minister of Environment, Spatial Planning, and Public Works. The planned works include structural reinforcement of the existing load-bearing masonry and the installation of a new steel structural framework in the buildings located at Ermou 98, Artemidos 1, and Artemidos 3. These interventions will support vertical extensions — two additional floors in the first two buildings and three in the third — made possible by exemptions from the "ideal solid" zoning restrictions.
The development will result in a hotel with a total surface area of approximately 920 square meters and a capacity of 50 beds. The ground floor and third floor of two of the buildings will house food and beverage establishments.
