The Urban Municipality of Velenje aims to breathe new life into the old square in the historical city centre. As part of the revitalization programme, the municipality will identify the abandoned or underused buildings and areas in the degraded part of the city centre, make the necessary improvements and carry out sustainable redevelopment operations to create better conditions for the development of economic and social activities and make the Velenje city centre a more attractive place to live in and work in. Additionally, new jobs are planned to be created and social inclusion enhanced thanks to the programme. 

As part of the project, an urban renewal office will be set up to support the implementation of this project, the project office space will be furnished, and a visual arts programme prepared and implemented along with a number of accompanying activities.

The project is worth a total of 298,840 euros. The contribution of the European Regional Development Fund to the project stands at nearly 200,000 euros, more specifically 191,260.16 euros.