IV. even try to develop such an ambitious project.

IV.    Greece

The development
consists of a residential complex on Rafina- Pikermi in Attiki in Greece,
composed from twelve luxury residences of approximately 500 square meters each
in a site of 2700 square meters each. The Application Site covers an area of
approximately 32,5 hectares predominantly comprising of wild and. The complex
is located next to the nature reserved characterized “Corine” under Greek Law.

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According to the
Greek Law the project is classified as private project Category B (Annex II)
under Group No 6, “Tourist Facilities and Urban Development, Building Sector,
Sport and Leisure” , where is considered not a necessity develop an EIA, but it
is subject of a “Scoping Report”. The classification was made according to the
following criteria.

1. Type and size of the project

2. Nature and quantity of pollutants emitted

3. Ability to prevent the production of pollutants by
the applied manufacturing process

4. The risk of accidents and restriction for the
protections of the environment.

It is expected that the Development would provide:

1. The demarcation of the plot. A large slope plot of
32.5 hectares.

2. The division of the plot in twelve isomeric and
independent plots

3. The clearance of each division from earlier
constructions, flora and trees where applicable.

4. The construction in each one of the twelve plots, a
high quality four level luxury villa of 500 sq. meters. Two levels underground,
two levels over ground, total height of each construction together with its
sloped roof will be less than 12m, with exploitation of 10% land cover in each

5. The design and regeneration of the surrounding
landscape for each one of the twelve plots accordingly, which will include
levelling the slope, outdoor installations (e.g. Parking Spots) and the
construction of a swimming pool.

Following this, it is anticipated that the construction
works will take place in phases lasting approximately 3 years in total.

1.      Consideration of Alternatives

1.1 Other Land
Use Options

High Density Residential Choice: This option will exclude a large number of potential
wealthy buyers from purchasing property in the area, lack of diversity and
vibrancy associated with a mixed-use development, and lack of uniqueness, high
standardization and landscape percentage usage associated with the preferred
development, gaining high economic and social value.

Light Industrial Alternative: This alternative was instantaneously rejected as unsuited
to the general functioning and land uses of the surrounding urban environment
by the Greek Law represented by the Public State and the Municipality of

Mixed-Use Commercial and Residential Development Option: This Option, would, besides the distance from the
city center, have some advantages mentioned worthy. But, it is considered that
the application site is far too small to even try to develop such an ambitious
project. The results would be unpredictable and the investment both
economically and environmentally does not deserve the risk.

1.2 Use of Other
Material Option

Steel versus reinforced concrete option: This type of construction seems a preferred one but there
are cases that need to examine carefully, but mainly this option was rejected.

Timber versus reinforced concrete option: Timber is also one of the most common structure
materials in the world, but still not in Greece, which was also rejected.

Alternative Composition Option: The Proposed Development has set two main parameters as in
for the exploitation of each plot. Those are a 10% total cover land out of the
40% permitted by the Greek Construction Law and a less than 20% structuring
coefficient permitted by the Greek Construction Law. Those parameters mean that
the total building in each plot must be just under 550 sq. m. and cover land in
surface plot (per plot) only less than 200 sq. m. . Those parameters where set
after considering alternatives together with significant matter of the
environmental scope.

2.      Identification of significant matters

The issues
considered appropriate for assessment are set out below. It is considered that
the Proposed Development has the potential to give rise to significant environmental
effects in these areas and this hierarchy:

1. Group Conditions and Contamination

2. Water Resources and Flood Risk, Hydrology and

3. Ecology

4. Transport and Accessibility

5. Noise and Vibration

6. Air Quality

7. Archaeology and Cultural Heritage

8. Townscape, Visual and Built Heritage

9. Socio Economics

10. Cumulative Impacts

While mentioned
some non-significant Issues are mentioned and why are considered not raising
potential environmental effects:

1. Waste

2. Light Pollution

3. Daylight, Sunlight and Overshadowing

4. Wind

A landscape
character analysis will be undertaken which will involve establishing the
nature of the landscape character that currently forms the application site, as
well as identifying the character of adjacent areas. This analysis will assist
in demonstrating the potential on-site and off-site effects of the Proposes
Development upon the character of the landscape.

Along with the
above analysis an estimation of the magnitude of the populations to be affected,
and the detailed identification of those populations will take place. The human
population estimated to be affected from the environmental factors is
approximately 100 people (approximately 25 neighbouring homes), while the
indirect socio economic affects will definitely concern a lot more. The fauna
estimated to be affected are birds (e.g. Pliorgrus Pendelici, Phasianous
Archaiaci), mammals (e.g. Sciuroid, Rodents, Deer, Cattle) and reptiles (e.g.
Testudinal, Squamate).