At the November 21 session, the Government of the Republic of Armenia adopted a decision authorizing the Mayor of Yerevan to carry out the process of expropriation of two property units in the area enclosed by the Main Avenue, Abovyan, Pavstos Buzand, Yeznik Koghbatsu and Aram streets, within the framework of the "Old Yerevan" project.
According to "Armenpress", the decision aims to restore the historical-architectural environment of "Old Yerevan" through private investments.
It is planned to rebuild the monuments of ancient history and culture in the area, creating a new urban aesthetic environment. The area includes old and dilapidated buildings that do not meet fire, sanitary and urban planning norms.
In 2018, most of the 151 properties in the area were already expropriated, but the properties at Aram 27/1 and Aram 29/4 were left out of the process. For the expropriation of these properties, it is necessary to recognize a public overriding interest again.
Based on the new circumstances that have arisen in the process, the decision envisages the alienation of properties under a contract with "EMCI" CJSC.
To extend the public interest regime to those properties that will receive cadastral registration or legalization after 2024, to settle possible disagreements during cadastral registrations.
The decision will allow to complete the urban development program, which will contribute to the restoration of historical and cultural values, improvement of the investment environment, and creation of jobs.
The implementation of the project will contribute to the preservation of the historical heritage of Yerevan and the development of the capital with innovative and aesthetic solutions.
