Alaca Imaret in Turkish means Colorful Asylum and that's because its minaret (nowadays only its base exists) was decorated with colorful diamond shaped stones. It was founded by Ishak Pasha, a well-known Vizier during Mehmet II's rule who served as the commander of the Maiden of the Thermaikos. The entrance bears the inscription: "This decent temple of worship built by the vizier of the ruler, Ishak, son of Ibrahim, is dedicated to the true God."
The edifice is located on Kassandrou Street north of the church of Agios Dimitrios. Shaped to resemble an inverted T, it operated a poorhouse (imaret) and a religious school (madrasa). Its main features are the architecture which has remained intact over the five centuries since its erection, the colorful minaret (one of the most impressive in the city, which was destroyed between 1925-1930), the interior decoration and the facade with its characteristic arcade entrance where the faithful prayed.