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Apartment House to be built for young professors of YSU

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  • Apartment House to be built for young professors of YSU

    Apartment house to be built in Yerevan for young professors of Yerevan
    State University


    2008-02-01 19:13:00

    ArmInfo. A program for housing support of young professors of Yerevan
    State University was presented in Yerevan today.

    The construction of a nine-storied house with 153 apartments will be
    started in the framework of the program in Avan community in Mar 2008.
    The total area of a two-room apartment will make up 58 sq m, a
    three-room apartment - 82 sq m, a four-room apartment - 144 sq m. The
    house will have gas, heating system, a yard and an underground parking
    lot. The project will last for 18-20 months. One square meter will cost
    170,000 AMD ($550), which is much lower than the average price in
    Yerevan - $900-1,300.

    The construction will be carried out by Glendale Hills company, while
    Converse Bank will issue mortgage credits.

    The parties are also considering the possibility of building two more
    houses for YSU professors.
    "Two years ago we said that it was necessary to help each young
    Armenian family to buy house and car. I am sure that the rate of the
    mortgage credits offered by Converse Bank will be the lowest on our
    market. I hope that the example of Glendale Hills and Converse Bank
    will inspire other organizations to carry out similar actions," Prime
    Minister of Armenia Serzh Sargsyan said during the presentation.
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