The Votanikos neighborhood currently houses mostly vacant, dilapidated storage and industrial facilities.

The football stadium was to be ready for the 100 years of the club in 2008, with the rest of the complex completed by 2011.

By October 2013, and due to the club's and the country's financial troubles, the construction of the Votanikos Arena had stopped and consequently the plans for the demolition of the Leoforos Alexandras Stadium were cancelled.

In 2022, mayor of Athens Kostas Bakogiannis announced that the project is going to be implemented and its construction will last 3 years.

After the construction of the arenas, Panathinaikos will be the owner of the entire Votanikos Sport Complex for 99 years.