Yerevan /Mediamax/. Minister of Urban Development of Armenia Narek Sargsyan today spoke about the major projects due to be implemented in Small Center of Yerevan.

Addressing a final press conference today, he said that ''Old Yerevan'' project will be fully drafted in March 2015. Presently, the author of the project Levon Vardanyan is discussing the details of construction with investor Vartan Sirmakes in Switzerland.

Speaking about the Republic Square, the Minister said that construction of an underground parking lot is ''the number one'' task now.

“Active discussions are being held, and the assignment of construction of 3-storey parking lot for up to 1000 vehicles is being worked out. The underground parking lots will also address the issue of traffic jams on the crossroads'', he said.

As for the North Avenue, Narek Sargsyan said that it ''is the reflection of our urban development culture which proved successful''. He added that there will be circular landscaping at the Avenue in near future.