YSU Staffers to Get New Flats

YEREVAN, July 9. /ARKA/. RA President Serge Sargsyan attended a
foundation laying ceremony for a residential building for staffers of
Yerevan State University (YSU) in the Avan community.

YSU Prorector, Chairman of the YSU Graduate Association Arsen Karamyan
reported that the construction is to be completed in two years. The
project is estimated at 6bln AMD ($19.7mln), and the construction will
be funded by the future owners themselves.

Karamyan reported that the residential building is designed for 261
families, and the flats will be put into service under turnkey
contracts.

The cost of 1sq meter of housing is 170,000 AMD ($550). `A market study
shows that one square meter of housing in buildings of similar design
may cost up to 350,000 AMD, but we offer flat twice as cheap,’ Karamyan
said.

He pointed out that the flats will be distributed by means of
sortition. Karamyan said that young lecturers with academic degrees,
who have worked for at least three years, will mostly be owners of
flats.

He added that the construction of a residential building for 200 more
families will be started in 12-18 months.

The authors of the project, architect David Mirzoyan pointed out that a
parking bay for 180 cars will be located on the ground floor of the
ten-storey building. The architect pointed out the possibility of
constructing new flats.

The construction will be carried out by the Glendale Hills company. `0–