Nicosia mayor says Makarios Avenue changes hinge on EU funding safeguards

Nicosia, Cyprus. Nicosia Mayor Charalambos Prountzos said changes to Makarios Avenue can only proceed if they do not risk the repayment of European Commission funding that co-financed the project.

He said focusing solely on reopening the avenue to traffic was a disservice to residents and shopkeepers.

Funding concerns

Prountzos said the transport ministry has insisted that any alteration to Makarios Avenue must first ensure there is no risk of funding being reclaimed by the European Commission.

The ministry has decided not to finance a study requested by the Nicosia municipality to support proposed changes submitted by a joint platform of shopkeepers seeking to reopen the avenue to traffic. The municipality was formally informed in writing that the study’s cost would not be covered.

“There is a decision by the city council, which we are trying to implement without the risk of the taxpayer having to pay back the funding provided for the project, and that is where we are now,” Prountzos said.

Commercial revival measures

Prountzos said the discussion should move beyond traffic access, citing changes in shopping patterns since the 1990s, including the growth of shopping malls and online shopping.

He said market analysis by the academy of urbanism and the technical chamber, Etek, identified shop authenticity and affordable rents as the two main factors needed to attract businesses and customers to the avenue.

The municipality intends to propose a tax on vacant shops held by landlords seeking high rents, with the measure expected to be presented next month.

Prountzos also said Leonardo Hotels will establish a presence on Makarios Avenue, which he described as a sign of renewed commercial interest in the area.