A consortium of four companies, represented by “GTB Development” LLC, will implement the “Cascade Cultural Hub” project, the Yerevan City Hall informs.
AMD 20 billion 46 million (over $5 million) will be invested to complete the construction of the Cascade complex based on the project presented by renowned French architect Jean-Michel Wilmotte.
A concert hall for about 1,000 people, a new museum of contemporary art, studios, entertainment and recreation areas will be created. All newly-constructed buildings, which will be equipped with the necessary technical means and infrastructure, will be transferred to the city of Yerevan as community property.
The investing company will also be allowed to build a multifunctional complex on the right of the Cascade, the design of which will be drawn up and architectural solutions will be provided by Jean-Michel Wilmotte.
The project is planned to be completed in five years.
