Despite the fact that its initial intent was as a monument, beginning in the 1990s the Cascade was home to a very innovative discotheque. During the summer season, this area becomes a public entertainment spot with many free outdoor concerts. Some of Armenia's most popular singers, musicians, as well as groups from abroad often perform here.
The Cascade is recently becoming one of the hottest points in Yerevan, similar to the Republic Square. It provides a magnificent view of Mount Ararat and the whole city center. It is also a common jogging area for tourists. Many often are not aware that there are escalators inside the structure and that they do not have to climb the stairs all the way up.
The structure belongs to Gerard Cafesjian and the upper part is the construction site for the Cafesjian Museum of Contemporary Art. Statues by a number of artists have been placed all along the monument, including works by Lynn Chadwick, Barry Flanagan, Stanislav Libensky, Jaroslava Brychtova, and Paul Cox.