Armenian Government Backtracks, Promises Apartments to Residents of Dilapidated Yerevan Buildings

The Armenian government in its meeting today upon the proposal of Yerevan City Hall amended one of its previous decisions regarding a construction area of 400 square meters adjacent to Buzand Street.

According to the official Government of Armenia website [AM], M.S.G. Group and Harmony International expressed readiness to cooperate and pledged to complete the urban development program by December 2016. The government authorized Yerevan Mayor Taron Margaryan to sign a land sale contract with the the companies, recognizing Harmony International as the legal successor of the rights and responsibilities conferred in the previous agreement. The company will be given the opportunity to continue and complete the urban development program in the allocated area.

The executive branch of government allocated 2 billion AMD (about $4,828,470 USD) to the RA Ministry of Territorial Administration to provide to Yerevan City Hall, with which it will purchase apartments for the residents of the dilapidated buildings that are set for demolition.

In Yerevan, there are currently around 10 buildings designated as "level 4 emergency" buildings, for the resettlement of the more than 400 families of which new apartment buildings need to be immediately constructed. The municipality expects to begin building four of these buildings this year, as a result of which it will be possible to acquire and as compensation provide 470 apartments and 500 square meters of non-residential territory.