The Grand Arsenal is the last of the 17 "Neoria" (Venetian Dockyard) to the west. Its construction started in1585 by the Intendant Alvise Grimani. The thickness of its walls, its isolation from the rest of the "Neoria" and the public services it hosted through time assign the importance of this building and might explain why it is called "Grand". With the addition of a second floor in 1872, during the Turkish period, a new era began for the "Grand Arsenal". Since then, the building has hosted several important public services and activities. For example, here is where the school of the Christian Community was hosted. Since 1892, it has also hosted several theatrical performances in the large chamber. It was also used as a public hospital in 1923, and as a City Hall from 1828 until 1941.

Nowadays, it has been transformed into an impressive building that hosts various exhibitions and events. It also hosts the Center of Mediterranean Architecture and important Greek and International events related to architecture.