Private investors fund construction of underground parking frame

Construction of underground parking structure in Yerevan is mainly funded by private investments, told Aysor’s correspondent Chief Architect of Yerevan Samvel Danielian.

“We are installing a new underground parking structure on financial backing of private investors. Five camps will be built on Shaumian Square, Aznavour Square, Sakharov Square, Liberty Square, and French Square. We’ll install 2,496 car parking spaces to 2014, finishing the construction works,” said Samvel Danielian.

Some 9 underground parking structures are included in the General Plan and the Framework of territorial dealing of administrative zones, according to the chief architect. The installing works are expected to be finished by 2020, bringing additional 2,355 car parking spaces.

Installing of the three-storey underground parking structure on Liberty Square, which begun in October 2008, is nearing its completion. It will be put into operation in spring of 2010, providing 500 car parking places.

Samvel Danielian said the 2009-2020 Plan on installing multistoried underground and ground parking structures is designed with focusing on the key goal to free streets from parked cars, especially, in the center of the city. Car parking places will be available by paid system.