The historic Faneromeni School building in the old part of Nicosia is being prepared for renovation. The Archdiocese of Cyprus, which owns the property, has submitted an application for a building permit. The project calls for the repair and reinforcement of the building, the creation of a public square, and the renovation of the underground parking garage.
The documents were submitted for review approximately five and a half years after the signing of the agreement to transfer the building to the University of Cyprus for use. The work is planned to be carried out by the Archdiocese’s technical services in collaboration with university specialists.
What will replace the Faneromeni School?
According to the project, the historic building will be renovated and reinforced. Behind the school, there are plans to build a public square in place of the existing basketball court.
Beneath this area lies the Faneromeni underground parking garage, which can accommodate 123 cars. Plans also call for its modernization as part of the project.
Originally, the building was intended to house the University of Cyprus’s School of Architecture. However, another option is now being considered: the plan is to house the Department of History and Archaeology there, which has about 200 students.
Why was the project delayed for more than five years?
The first memorandum of cooperation between the government, the Archdiocese, the University of Cyprus, and the Municipality of Nicosia was signed in April 2021.
Under the terms of the agreement, the Archdiocese was to transfer the building to the government under a long-term lease for 33 years. The government, in turn, would make it available to the university. The annual rent amounts to approximately 150,000 euros. According to estimates, by November 2026, the total amount could theoretically reach about 800,000 euros.
Initially, there were plans to open a school of architecture in the building. However, for it to function properly, additional facilities were needed: laboratories, lecture halls, seminar rooms, and spaces for master’s and doctoral students.
The project’s cost was estimated at approximately 15 million euros. This amount was deemed too high, and the plan was shelved. Nicosia Mayor Charalambos Pruntos, however, doubted that the costs would actually have reached that level.
Later, reports emerged that the Archdiocese was considering the possibility of transferring the building to the National and Kapodistrian University of Athens. In November 2025, the project was threatened with permanent closure. Archbishop George stated at the time that the Ministry of Finance had refused to fund the construction of a new wing behind the school, and the church was considering the option of opening its own private school.
The situation changed in January 2026, when the University of Cyprus proposed housing its Department of History and Archaeology in the building. Finance Minister Makis Keravnos subsequently confirmed that the facility was intended specifically for this department.
How will the project affect the development of Old Nicosia?
The renovation of the Faneromeni School is part of a larger plan to revitalize the capital’s historic center. It calls for the expansion of university and research activities, the creation of student dormitories, and the conversion of old buildings into educational and public spaces.
Pruntsos welcomed the submission of the application. According to him, restoring vitality to the city within the Venetian walls remains one of the municipality’s long-term strategic goals. To attract investors and property owners, the government has also provided special urban planning incentives:
owners of valuable buildings constructed before 1960, as well as certain later structures, will be able to transfer their floor area ratio to other lots following renovation and restoration;
in the event of demolition and subsequent reconstruction of a building, the building coverage ratio will be preserved;
the building coverage ratio of a lot may be increased by up to 10% to adapt historic buildings to modern requirements;
Specific incentives are provided for the construction of student housing.
Additional interest in the historic center arose following the announcement of a 15 million euro state fund to support projects related to student housing. Private entrepreneurs have expressed interest in these investments. Some property owners are also reconsidering the possibility of obtaining protected status for their buildings in order to take advantage of the benefits provided.
Thus, the renovation of the Faneromeni School could become one of the key projects in the revitalization of Old Nicosia. Its goal is not simply to restore the historic building, but also to bring students, business, and community life back to the neighborhood.