Dainas street is a residential development located in the central part of Riga, Latvia. This new development project will be located in the courtyard of other buildings. Neighbouring buildings and courtyards will provide a green and quiet living environment. The building itself will not be directly accessible from the main streets providing privacy and silence.
10a Dainas street residential development is located in the Historical centre of Riga which applies special rules for residential development in this area. Lightweight light coloured cement composite material will be used for the exterior facade with partly embedded dark brick stone cladding elements. The design will compromise between the historical buildings in the neighbourhood and tendencies of new developments. The building will have large windows providing sunlight for all apartments.
The gross building area will be 9,969 sqm from which 5,993 sqm will be the net leasable area. The total duration of this project will be 40 months until the sale of the asset at the end of 2022. It is expected that acquisition and design will take up to 9 months. The construction process started in summer 2021 and will continue for 15 months. By the end of 2021, the walls, columns and ceilings of the basement and first floors should be completed. In the spring of 2022, it is planned to finish the frame of the building and to start masonry of the external walls and installation of windows. The project will be ready for tenants to move in around beginning of 2023 and it is expected that the whole building will be gradually rented out in less than a year.
Total investment size of the project is 14.6 million euros.
Click here for more information about apartment purchase.