Northern Avenue - part of architect Alexander Tamanian's original plan for Yerevan - will connect Opera Square and Republic Square. There are currently 5 arteries which flow into the city's central Republic Square. Northern Avenue will be the sixth. City authorities have cleared 50,000 square meters of land for the project that upon completion will be a 24-meter (72-foot) wide pedestrian mall lined with multiple-story buildings, each with retail, commercial and residential. Construction is being financed with funds raised by the sale of commercial lots to the private sector, in public auction, with bids as high as $600 per square meter. Both local and foreign companies are participating in the construction of Northern Avenue, which should be done by 2006. Its completion is expected to spur further interest in the territory adjacent to the State Opera, where several new buildings have already been completed.

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