Some $70 million to be allocated for reconstruction of Cascade

ArmInfo.  Approximately $70 million will be allocated for the reconstruction of the unfinished section of the Cascade complex. This was announced during a working  meeting of the Yerevan City Hall on December 8.

In this regard, Yerevan Mayor Tigran Avinyan recalled that the amount  previously discussed was $50 million, which was later increased to  $70 million. "I know there is considerable appetite, but I ask that  you stay within the amount specified in the agreement regarding the  funds that will be allocated for the implementation of the Cascade -  Cultural Hub project. I ask that you remain within this framework so  that we can move forward and achieve high-quality infrastructure," he  said. The mayor was reminded that an agreement with the investor was  recently signed, regulating the legal relationship between the  parties. An agreement will be signed later regarding the area  adjacent to the Cascade, where a city garden will be built.

It was noted that construction work will begin simultaneously and  will last five years from the date the construction permit is  received.

Avinyan emphasized that complex processes preceded the signing of the  agreement. "We are not only solving a decades-old urban development  problem, but also creating critical infrastructure for the city-a  1,000-seat concert hall, new venues for contemporary art, and various  public spaces that will belong not to the mayor's office, but to the  city," he said.

As a reminder, Yerevan Municipality announced a competition for the  reconstruction of the Cascade complex in January 2024. Two projects  were submitted: "Cascade Gardens" by American architect David Hotson,  and "Cascade Cultural Hub" by French architect Jean-Michel Wilmotte.  Following a vote on the "Active Citizen" platform, the French  architect's project won. It should be noted that this project  includes observation decks offering views of the city, Mount Ararat,  and the Mother Armenia and 50th Anniversary of the October Revolution  monuments. The museum project also includes restaurants, new cultural  venues dedicated to art, music, and cinema, open-air halls, and many  other public spaces. The staircase and escalator, which according to  the project run through the center of the museum, will connect with  important symbols of Armenia.

The investor and general contractor for the project is GTB  Development. More detailed information about the project can be found  at the following link:  https://activecitizen.yerevan.am/suggestion-details/4/