YEREVAN, FEBRUARY 21, ARMENPRESS. Yerevan is taking measures to complete the construction of the iconic Cascade.

The City Hall said Mayor Hrachya Sargsyan tasked officials to re-start negotiations with the Cafesjian Museum Foundation.

City Hall said it proposed to the foundation to jointly develop and implement a new investment program with the purpose of “modernizing the territory of the complex which is of high-significance for the city.”

“In this context the Yerevan City Hall is open to provide full assistance and invest respective toolbox,” the Yerevan City Hall’s Deputy Director of the Development and Investment Programs Department Meri Harutyunyan said.

Honored Architect Narek Sargsyan stressed that “if the board of trustees of the foundation is not ready to continue fulfilling their obligations, then undoubtedly a queue of investors will appear.”

“The problems of contractors are always taken into account, but they must take into account not obstructing the city’s development. If they’re not continuing the project for some reason, then they must either attract new investors or transfer it to the city,” he said.

Honored Architect Aslan Mkhitaryan said he has projects and ideas and is ready to cooperate. He noted that a hotel and auditoriums could be built there.

After the completion, the Cascade Complex has the potential to become a regional cultural center.