Thanks for the resource link!
Yes, this is the space that was taken from the public and put back as a result of grass-root movement. One of the rare cases in Ulaanbaatar that the citizens actually succeeded. This square is right on the heart of the city and one of the very few public spaces where one can hangout during short warm season here in Ulaanbaatar. It has also many significant economic and cultural aspects as the area is surrounded with retails shops and cafes and cultural activities by young artists frequently being organised there.