Located in downtown Yerevan, the avenue is mainly home to luxurious residential buildings, high-end branded shops, commercial offices, coffee shops, hotels, restaurants, and nightclubs.The construction of the avenue started on 26 March 2002, based on the original plan of Alexander Tamanian which was developed and redesigned by architect Narek Sargsyan.The construction of the avenue was financed by the private sector. First, the government bought up all the small informal properties along the route of the street, consolidated the land into larger, more feasible lots for high-rise developers, and auctioned those lots off. This process was done section by section, and raised a great deal of complaints from the previous landowners.Based on its revised design, the Northern Avenue is home to 4 small squares and 11 buildings with an average height of 9 floors. Many types of stone were used in the construction including basalt, granite, travertine and tufa. The avenue has a 2-story underground parking area.The official inauguration of the avenue took place on 16 November 2007. However, it was entirely renovated in 2014, and the 2-story parking area was partially converted into an underground shopping mall, with escalators leading on the Northern Avenue.The Northern Avenue is home to a number of fashion brands. Many restaurants and coffee-shops are also operating on the avenue.On 14 May 2016, the two-leveled underground "Tashir Street Shopping Gallery" was opened along the Avenue, with the first level containing the shopping centre, and the second being home to the parking area.