Minister of Urban Development of Armenia Narek Sargsyan promised that "tangible results" in implementation of "Old Yerevan" project will be achieved this year.
The Minister informed on February 3 in the Parliament that an area of 2 ha has already been cleaned for the implementation of the program. According to him Afrikyan building will be rebuilt in 20 meters from Teryan Street in direction to Byuzand Street.
The Afrikyans' building, located on 11 Teryan Street, was built at the end of the 19th century. Based on a Government decision in 2004, the building was included in the state list of historical and cultural immovable monuments of the city of Yerevan as a national monument. The Afrikyan building was dismantled in 2014 in order to broaden the roadway despite numerous acts of protest. In early XX century, before the revolution, the Afrikyans' building was an urban club visited by well- known politicians, entrepreneurs, artists and foreign guests. In 2004 the building was sold to a private company by the Municipality.
Industrialists Arakel and Tigran Afrikyan allocated big funds for schools and for road construction. Moreover, they built a water pipeline in Yerevan, which supplied the residents of Yerevan with drinking water.
The Old Yerevan project envisages moving the buildings dating back to late XIX - early XX centuries to one of the main sections of the Main Avenue. All of these buildings were dismantled from the central streets of Yerevan.
It was reported earlier that chairman of luxury watch brand Franck Muller, benefactor of Armenian descent Vardan Sirmakes plans to invest around 150 mn USD in implementation of "Old Yerevan" investment construction program.