Its construction was supported was supported by the Community Support Framework 3, Operational Programme "Culture 2000 - 2006" co-financed by the Ministry of Culture and the European Union. Building work begun in January 2007 and was completed during 2008. The final cost ran into 9.67 million Euros. The architects are Vasilis and Dimitris Sgoutas ("Sgoutas & Sgoutas Architects").
With a modern infrastructure and covering a total area of 6.810 square meters, home to the MCF's cultural programme since October 2009, the new building is capable of hosting a multitude of different events corporate conferences, seminars, presentations, exhibitions etc.
Its four floors include an amphitheatre of 330 seats, a cinema of 120 seats, a multi use black box hall of 68 seats and exhibition areas. There are also two café / bars, as well as a penthouse bar- restaurant.