The real estate project management company Citus has submitted publicity procedures at Vilnius city municipality design proposals for the first two phases of a planned multifunctional real estate project. The investment in the project in Kareivių Street, a rapidly changing and attractive location for the capital’s residents, is expected to exceed EUR 60 million.
The developer of the project is Victory Development IV, a closed-end investment company for informed investors.
In accordance with the requirements for projects of this size in Vilnius, an architectural competition was announced, and the winner of it, by the decision of a commission, was the architectural studio Eventus Pro by Sigitas Sparnaitis and Vytenis Gerliakas.
“The face of the capital is changing rapidly, and the expectations for architectural solutions and visual expression are growing – not only due to the requirements of the city municipality, which is striving to strengthen the image of Vilnius as a modern and sustainable western capital but also due to the expectations of clients and buyers. We are developing the project in Žirmūnai, which is undergoing rapid change and is, therefore, one of the forefronts of it. That is why we not only organised the architectural competition but also continued to work with the winning team of architects and designers to reflect the ideas expressed by Citus and the commission for the proposal,” says Mantas Galdikas, director of Citus.
The architectural expression of the office and residential buildings has evolved: less standard solutions were sought to better integrate the buildings into the city’s fabric, and additional pedestrian connections to Kareivių Street were created to improve the accessibility to the buildings. The buildings’ spacing was also slightly altered by adjusting their distances to adjacent plots.
The residential buildings have also been slightly modified: they have been regrouped, the division of volumes and facades has been adjusted, and different finishing materials and heights have been chosen. This will create a scale that is closer and more attractive to people.
Vytenis Gerliakas, an architect at Eventus Pro, says that the studio’s goal was to seamlessly integrate the new building into the existing and emerging urban environment and to reflect the sustainable development of Vilnius through its multifunctionality. He said that the adjacent office, service, and residential functional areas would allow the new complex to blend public and private spaces harmoniously.
“Our team has tried to find the strongest points of attraction in the environment, connect them to the new complex, and create guidelines for further conversions of the surrounding areas. Together with other projects already under development and planned for Kareivių Street, we hope to make it a cosier and more attractive place to work and live in the area called Šiaurės Miestelis (the Northern City),” says V. Gerliakas.
Nearly 500 apartments on offer
The project’s indicators have not changed significantly, although the total area has decreased: the multifunctional complex will consist of 8 residential buildings of the highest energy class, A++, and two administrative buildings – business centres.
Vilnius residents will be offered about 470 apartments (334 in Phases I and II) with a total floor area of about 21 500 sqm (14 950 sqm in Phases I and II). The apartments focus on a comfortable and varied layout. There will be a choice of 1.5-4 room apartments of 30-90 sqm, with the majority, around 42%, being two-room apartments. Around 30 business premises are planned on the ground floors of the apartment and office buildings, where companies and shops providing services to the residents will be invited to set up.
The business centres will occupy about 10 000 sqm. The total projected area of the entire project will be almost 34 250 sqm (about 27 700 sqm for Phases I and II).
It was previously announced that the project would be developed in six smaller phases.
Following an update of the project and a reassessment of the efficiency of the construction works and the convenience for future clients, it was considered to merge the phases, halving them to three. If successful, the first and second phases will consist of 5 apartment buildings and both office buildings, while the last phase will consist of the remaining three residential buildings.
The plan is to obtain the building permit and start work on the first phase in the first quarter of next year, with 80% completion in Q4 2023. A separate building permit will be negotiated for the third and final phase.
“The team is currently working on the project idea and concept. So, we have the ‘body’, and now we are working on the ‘face’. As always, Citus pays a lot of attention to it. We intend to start sales in the last quarter of this year, at a similar time as the other project being developed next door at 2E Kareivių str., and then we will reveal the planned prices, which we are carefully evaluating as the cost of construction is changing daily. We are racing ahead: the second project already has a concept, which we will present shortly,” promises the Citus head.
Galdikas says that the project aims to reflect multifunctionality as much as possible, creating an open alley in the interior spaces, a plethora of private and public areas for recreation, and a variety of spaces for services and businesses, cafés, and restaurants. The focus will be on small architectural elements, distinctive objects and landscaping, and the aim is to make the project spacious, comfortable, sustainable, and rich in greenery.
Almost all car parking spaces are provided in underground car parks, thus saving space, reducing pollution, and maintaining a larger green area. Several surface parking spaces will be reserved for people with disabilities. In total, 642 parking spaces are planned in the project, 512 of them in Phases I and II. All underground parking spaces will be able to accommodate electric vehicle charging stations.
Facts and figures:
– The address of the site is Kareivių g. 5, Vilnius;
– Plot area – 181.34 a;
– Estimated investment – more than EUR 60 million;
– Project manager – UAB Citus; developer – UAB Victory Development IV, a closed-end investment company for informed investors; designer – UAB Eventus Pro; construction manager – UAB Citus Construction;
– Planned uses: residential, administrative, commercial, services;
– Number of buildings, energy class and design area:
- Energy class – A++,
- 8 residential buildings (5 in Phases I and II); 2 administrative buildings,
- Total floor area – 34,25 thousand sqm; 27,69 sqm in Phases I and II,
- 21,57 thousand sqm of apartment buildings; 14,95 thousand sqm in Phases I and II,
- Of which 2,85 thousand sqm for commercial premises; 2,68 thousand sqm in Phases I and II,
- 10,06 thousand sqm of administrative buildings;
– Apartment programme:
- Number of rooms in apartments – 1,5-4,
- 23-78 sqm,
- The share of 1.5 room flats is 39%; 2 rooms – 42%; 3 rooms – 17%; 4 rooms – 2%;
– Number and type of parking spaces:
- 642 spaces in underground car parks; 512 in Phases I and II,
- All parking spaces will be equipped with infrastructure for charging stations for electric vehicles;
– Expected start of sales in Q4 2022;
– Planned construction phases and timing:
- 3 phases,
- Start of construction of Phase 1 in Q1 2023, completion (80% completion) in Q4 2023,
- Phase II: start of construction in Q4 2023, completion (80% completion) in Q1 2025,
- Construction of Phase III to start in Q1 2025 and finish (80% completion) in Q2 2026 (subject to the negotiation of a separate building permit).