The other day, we had a step forward in the processes related to the reconstruction of the unfinished part of the "Cascade" complex, which is a step indicating the practical stage. it is the signing of the contract with the investing partner aimed at the reconstruction of the unfinished part of the "Cascade" complex, the implementation of the "Cascade" cultural hub project, on the basis of which the legal relations of the parties will be regulated, and thanks to which our further process will be carried out.
Sona Tevanyan, the mayor's adviser, said about this during the procedural meeting of the Yerevan Municipality.
"Next, it is planned to sign the contract for the purchase and sale of the plot of land in the adjacent section, which is the component of the implementation of the project, which made it possible to attract an investing company in accordance with the terms of the tender, and the logic and regulations of these two contracts are such that the construction works in the two sections belonging to the community in terms of the structure to be handed over to the community later and the construction in the adjacent section should take place in parallel, concurrently, according to the principle of simultaneous organization, so that it is possible to ensure urban development the unity and simultaneous implementation of the entire process. This project also includes an initiative to improve the community plot in the adjacent area and design it as an urban park, which is part of the investment proposal.
As a result of the implementation of the entire project, road junctions, entrances and exits to the newly constructed cultural junction, neighborhood and city park will be provided. The planned period of the project's implementation, counting from the moment of the construction permit, is the course of 5 years, during which it should be possible to ensure the complete construction of the cultural junction and transfer it to the community as property by the investor in the operational state," he said. Yerevan Mayor Tigran Avinyan signed an important contract, emphasizing that it is a very complex process. "We are solving a decades-old problem with this. We are not only solving an urban development problem, but also creating a very important infrastructure for the city. The city is getting a beautiful concert hall with more than 1,000 seats, it is getting new spaces for the crown of modern art, and it is getting various public spaces, which are certainly not owned by the municipality, but by the city. I know that the appetite is very big, but still, I have to remind you that we have a certain contractual logic about how much money will be spent on the cultural hub. Please, let's try to stay within the framework of approximately 70 million dollars, not to go much more than that. In other words, we have changed it from the initial 50 to the order of 70, please be able to stay within that framework in order to move forward quickly in order to get quality infrastructure," he said.
