Two New City Blocks in Stepanakert
One of the blocks will be located next to Tigran Mets - Alek Manukyan intersection. The author of the project is Russian architect of Armenian origin Maxim Atayants. The area of the urban block will be 3.5 hectares, and according to the project, there will be seven- and nine-storey buildings. The houses will be built using the latest building technologies including anti-seismic rubber bearings for all foundations. It is planned to finish the construction works in 2020.
The second urban block with 2.5 hectares area will be located not far from Tumanyan street, near the Officers' district. The design of the block is carried out by the architectural studio "Portal". According to design, there will be five-storey buildings, school and kindergarten.
An important advantage of the apartments in these blocks will be relatively affordable prices when using new mortgage lending scheme developed by the Government of Artsakh. The existing housing fund is out-to-date, and yet the demand for new apartments is high. The government is confident that more families will benefit from the new mortgage scheme. The project will be implemented by the Artsakh Investment Fund. For these 2 programs the fund received additional state financial support and in 2019 its budget increased by 1.5 billion AMD (about $3 mln).