Yerevan Underground New Start

Yerevan Underground New Start

The long-awaited “train” of unloading traffic flows in the capital and the development of the metro has finally budged! The future metro station project “Ajapnyak”, which was in draft papers back from Soviet times, finally will be brought to life, and in this respect the city authorities already launched a complex program.

“A large shopping center is planned to be built on the territory adjacent to Tumo Center for Creative Technologies, which will have a very high level of sales in terms of trade, because it will be located over the metro station, which will interest the entrepreneurs for development of the station”, recently noted the chief architect of Yerevan Artur Meschyan. In his speech he assured, “This will be a 100% business project, and with the investments of this project we have to build the bridge and the new station”.

It is planned to start the project implementation with construction of the new station, said deputy mayor Hayk Sargsyan, - “In all our projects our main goal is to create new values and new infrastructures in Yerevan, without increasing the government debt and without budget overload. The project implementation should begin with the construction of underground and completed with a business model. The principle is stated and clearly presented to all potential investors.”

The business project which is considered by the municipality, includes two components: construction of the new shopping mall next to the new metro station and updating the housing fund in this area of Yerevan.

“When we reached the assessment stage, we understood, that we have an old housing fund next to the underground. That is former Cheryomushki district of Yerevan. Here we have many dilapidated residential buildings, each of which is considered as a separate business program. Three-four-storey buildings will be replaced with high-rise buildings, and creating business interest, we will have new housing funds and relocation of people without budget overload”, noted deputy Mayor Hayk Sargsyan.