On Vesetas Street 6, Riga, a new apartment building, “Renaissance” has just been launched. The building adds to the architectural quality and landscape of Riga’s historic centre.
“This is a unique project – a modern, sustainable building in the heart of the city, in a rapidly developing neighbourhood. Inhabitants of the Rennaissance building can feel like they are living in a private house”, says Alexandra Strode, a Board Member of LNK Properties Ltd and a project developer, head of the residential real estate department.
“There is a growing satisfaction in working with architects and continuous synergy as the project progresses. The building is a real example of architectural art and the minimalism of the highest breed. Much attention was given to details, including the materials’ quality and the solutions’ sustainability. No one remains indifferent. For example, facade solutions even exceeded our initial expectations. Moreover, the building complements the historic centre’s urban environment and harmoniously interacts with the new Skanste neighbourhood. I am very grateful to the entire project team – architects, builders, fellow developers,” – says Strode.
The total investment in the project, including the acquisition of land, is 5.5 mln EUR, of which 2,3 million EUR is a loan from Signet Bank. Currently, seven apartments out of 10 have been sold, and another apartment has been booked, which leaves two available to interested parties.
The average cost is €4,300 per square metre. From a construction point of view, one of the most challenging stages was the construction of exposed, six-metre-high columns. The total project area is 2 360 m2, the residential area is 1 250 m2, while the construction of the glazed structures is 1 450 m2. 1 200 m3 of concrete has been used during construction, and the total length of the project columns is approximately 1000 metres.
“The biggest challenges during construction work were the complications with supplies and deficiency of materials that hit the whole world over the past three years. The greatest satisfaction, therefore, is that, despite all the challenges, we managed to find new solutions and complete the work on time. Construction work was completed with the utmost care. The building is safe, durable and aesthetically beautiful. Owners of their new apartments will surely be satisfied with the quality”, says Kaspars Ratkevičs, Board Member of LNK Industries.
“As Riga’s modern centre unfolds, we see new, modern and high-value buildings emerging next to the historical buildings, making the city’s architectural environment more attractive and contemporary. Financing thoughtful and high-quality projects is a priority for Signet Bank. As such, we are pleased that it was us who became a collaborator in financing this project, where not only the residents acquire a quality living space, but the urban environment becomes visually richer, too, says Ineta Done, senior vice president of Signet Bank.
The new building is located in the modern centre of Riga, where Skanstes Street forms the central traffic way of the neighbourhood. Vesetas Street 6 is a high-quality living location where a modern and high-quality building is formed next to the historic and quiet centre of Riga City.
Construction of the building was started by JSC “LNK Industries” in December 2020. Despite the challenges during the last two years, the works were completed on time, and apartment residents will soon be able to move in.
The uniqueness of the Renaissance project is based on the understanding that the city centre’s dynamic landscape is inseparable from the urban living space. The project challenges the usual understanding of privacy as a visual separation from the street space.
The image and functional layout of the building should be viewed in such a manner that each apartment is emphasized as an individual residential unit. The interior and exterior spaces should be completely separated from the premises of other flats, providing a seamless sense of privacy. At the same time, the vast windows allow the city’s landscape to flow in, and attract the glances to the monumental facade columns – the boundary between urban and private living space.