The historical building Plaza Theatre (photo) on High Street in Northcote, most known as Elysee by the greek community, that belongs to Thanassis Loustas, will not finally turn into a block of flats. The Greek constructor, with respect to the history of the building, decided to keep the forefront and to house a nursery, shops, offices, and some apartments. This decision is not only approved by the citizens but very profitable too. Mr. Loustas said that he is really satisfied by the final appearance of the building that dates back to 1930 and is much better than the appearance that it would have as a block of flats.
We should also refer that the design of the building is by George Petridis. As he says, more and more constructors prefer to maintain the historical buildings than break them down in order to build block of flats