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.

[3][4] Events include concerts and performances, in addition to interactive information booths and a wide range of pavilions and exhibitions set up along the avenue.

[6] The Vice Speaker of the National Assembly Alen Simonyan stated, "Over the past 28 years following its independence, Armenia adhered to pan-European values and continues building its cooperation in the European direction", during a ceremony held at the newly inaugurated square.

[7][8] During the ceremony, former Mayor of Yerevan Hayk Marutyan and the former President of PACE Liliane Maury Pasquier unveiled a plaque within the square.

[9] Northern Avenue is home to a number of international fashion brands and luxury stores, including Burberry, Armani, Massimo Dutti, Ralph Lauren, Tommy Hilfiger, Cole Haan, and Zegna.