Rehabilitation and modernization of City Hall Bucharest (PMB), the building  of Museum Nicolae Minovici, of the Astronomical Observatory Vasile Urseanu and the Arc de Triomphe, the restoration of Mihai Flamaropol rink are just some of the largest investments in progress, funded and managed by the Capital City Hall. Objectives such as the construction and rehabilitation Lia Manoliu multipurpose hall or historical  monuments restoration are included in the preparation and bidding, and will be started in 2016. In terms of road infrastructure and public works, the most important projects aims to the implementation of road underground passage in Piata Sudului, the breakthrough of the Bd. Nicolae Grigorescu - Splai Dudescu, the extension of Bd. Ghencea and rehabilitation of the road from the Iancului Road and Bd. Pantelimon. In total, PMB supports and manages investments in various stages of development, totaling approximately 500 million euro. The northern area remains attractive, by the Bucharest chief-architect point of view, but its resources are nearly exhausted, while the cooperation with the metropolitan area managers is poor. In the eastern and western parts of the city already exist outstanding private initiatives, but on the medium and long term, probably in the south will be the greatest opportunities. Two initiatives can be decisive in the near future, one of the City Hall, which is aimed at urban regeneration and other private implemented in Ferentari area, aiming at restructuring the former industrial area "Autobuzul". The southern region has a major shortage of green space and, in this respect, some decisive action will be taken. At the General Council of Bucharest is filed, at this time, an initiative to form a single trust fund for land acquisition for green construction. The chief-architect of Bucharest considers that the construction market shows already moderately positive signs, pointing out that there is a slight increase in the quality of projects, both in terms of architectural quality and degree of sophistication.