Karaköy has been a major commercial and financial center throughout history. A few years ago, in order to adapt Karaköy to contemporary commerce, finance, culture and tourism, a restructuring began with government and the private sector support. The new process which can be considered as a ‘rebirth’ has accelerated the establishment of many art galleries such as Istanbul Modern. Some places around the neighborhood like Kılıç Ali Paşa Mosque, Tophane-i Amire, The Arab Mosque, Galata Tower and the Galata district and Mimar Sinan Fine Arts University was attracting both locals and tourists attention. Playing an important role in cultural history tourism, Karaköy caught up to date with Istanbul’s first modern art museum and art galleries. CULTURAL TRANSFORMATION Started almost 10 years ago, Karaköy’s process of change has accelerated day by day. In 2002- 2003, Serdar- ı Ekrem Street’s renewal which can be considered as a turning point for Karaköy’s future has started a new era for Kadıköy – Tophane - Galata districts. Gained momentum with the historic Yazicizade Apartment’s restoration was finished (located behind Tophane- i Âmire) in 2008 and new art galleries opened in Boğazkesen Street and Tophane fallowed it. Some of the culture and art, especially contemporary art projects were, Design Biennial organized by IKSV and the renovation of Galata Greek Primary School as an art gallery. Tophane-i Amir building and Mimar Sinan Fine Arts University Culture and Arts Center Exhibition building opened to service, also the old Osmanlı Bank Headquarters building, became the center of SALT –the exhibition center which belongs to Garanti Bank. Also for the tourists coming from abroad by sea, Karaköy is Istanbul’s most important center. In charge with Union Han’s restoration project architect Dr. Mehmet Karaören says that most of the port cities like Istanbul are going through a process of change. Karaören also states that this environmental development will extend to the surrounding neighborhoods of Istanbul such as Haliç which is one of the oldest areas and make them increasingly important. As a cultural hub and rapidly growing district, Karaköy’s tourist attractions such as restaurants and hotels had to go through a change both qualitatively and quantitatively. The district between Historical French Passage and Karaköy-Tophane, hosts numerous high-end hangouts. SUCCESIVE NEEDS Another project that would affect Karaköy its surroundings was Galata Port Project which has started in 2005 to meet the region’s current trade and tourism needs. Expected to be Turkey ‘s International Cruise Terminal, Galata Port has great importance for the district. After the held tenders this year, Real Estate Appraisal Assistant General Manager Hüsniye Boztunç stated that there has been amobilization observed in Karaköy real estate market especially in the last year. In fact, this is nothing more than keeping pace with the requirements of today. Used to be the base of Karaköy is a reflection of the changing face of business today is experiencing. Today in Karaköy, both the Ottoman legacy is revived and the district is adapted to modern trade. To meet the demand comes from this change, major hotel projects have been started and especially the ‘Banks street’ is reorganizing for hotel constructions. This change corresponds to the needs on one hand. On the other hand a historical legacy is revealed and it should be protected. Mimar Sinan Fine Arts University Instructor, Master Architect Salih Hasan Diker stated, “Cities are nomad-immovables. Not only people move from one city to another. Also cities move from an era to a new one. Here it is called urban renewal. The important thing here is to keep visual memory spaces and structures have been marked the while installing new functionalities in order to change renew them.’ GREAT CONTRIBUTION TO ISTANBUL Hüsniye Boztunç mentions that one of the most conspicuous projects is Novotel Karaköy which has started in August 2012. Novotel Karaköy’s architecture and engineering was done by YPU. The architect of the project R. Güneş Gökçek attracts attention to two things; the interior street and the courtyard. R. Güneş Gökçek explains that the inner street inside Novotel, designed on the parcel with attached buildings, connects Rıhtım and Galata Mumhane Avenues, and this connection is both a gift for the urbanites and it can also be employed as an element that energizes commercial functions of hotel’s ground floor. The yard over the ground floor is completed with a green roof system, and by this way they tried to decrease the effect of urban heat islands. Noting that by preserving empty-full ratio in the area for the facade, they made an effort to address it with a contemporary, new language. Karaköy will be revived as a culture and tourism center as the business and finance center has moved to Maslak in Istanbul, and its transformation with Galataport and outcomes arouse curiosity. The change has greatly contributed to Karaköy so far and with the projects to be completed in the future, Karaköy will continue to add to Istanbul brand.