Deputy Mayor dr. Balázs Szeneczey and András Puskás, Vice Mayor of Budapest District 5, by placing a time capsule, have officially launched the project aiming at the rehabilitation of Ferenciek tere. The two politicians have put daily papers, small change, and one tile from the underpass into the time capsule prepared for this occasion.
Following the completion of the infrastructural investment at Ferenciek tere and surrounding areas, the residents, pedestrians, and cyclists will get back again their downtown, which will become more citizen friendly and modern. In 2009, after finishing the first phase of the project New Main Street of Budapest, vehicle through traffic has been banned from small streets of the city centre.
During the second phase the downtown will be reunited, there will be more accessible pedestrian walkways created, just as more liveable spaces and green areas. Apart from Ferenciek tere, Március 15. tere (March 15 square) is also going to be reconstructed, from where a two-lane access will be created towards Elisabeth (Erzsébet) Bridge. In the framework of this project, the Y-shaped underpass will be permanently closed for the traffic, and will be connected with the current subway underpass. The costs of the investment have reached more than 4 billion HUF, and it will be finished by March 2014.
