At a public auction last week, Liven acquired the 27,000 m2 registered immovable at Regati puiestee 3, in the neighbourhood of Pirita TOP. The company plans to implement a solution based on the established detailed plan, according to which a modern residential quarter will be built on the paved site that has been standing idle for years, in accordance with the detailed plan. The aim of the project is to develop a living environment that is open to all city residents, while also being a part of the Pirita promenade. The cost of the planned investment is nearly EUR 70 million.
Andero Laur, CEO of Liven AS, noted that the property in question deserves a new beginning, as it has had no real use for many years. Liven wants to transform the area into an attractive living environment, which would also remain open to city residents.
‘The registered immovable at Regati puiestee 3 is one of the most important intersecting points in the area between Pirita and the City Centre. Historically, the sea has played an important role in the history of the development of the Pirita region. We therefore wish to act in the development of a comprehensive living and leisure environment in the Pirita District, in close cooperation with the local government,’ added Laur.
According to Liven’s plans, three-storey residential buildings and 220 homes will be built on the registered immovable. The project follows the established detailed plan, according to which 90% is planned for use as residential land and 10% as commercial premises. ‘With the opening of Reidi Road, the problem of traffic jams for the residents of Pirita and more remote areas was solved. Today, the City Centre side of Reidi Road has become the preferred place for city residents and visitors to spend their time. Our wish is to transform Pirita Road into a unified whole, one that would convey the image of Tallinn as a maritime capital,’ said Andero Laur, as he explained the proposed plans.
According to Andero Laur, Liven has a clear vision of how it will shape the development into one of Pirita’s representative areas. ‘We create high quality homes with a soul. We involve the home buyer in the early planning stages, to take into account his or her wishes and needs when building a home. As a result of the development of Regati tee 3, the Pirita District will receive new residents that are permanent, not temporary,’ noted Laur.
Liven acquired the Regati puiestee 3 registered immovable in a public enforcement agent’s auction, in which eight companies participated, for EUR 12.02 million. The company is planning an architectural competition as its next step, one that will also include the surrounding promenade, consider the wishes of local residents, and meet Liven’s established principles and high standards.
A survey conducted by Kantar Emor revealed that Liven AS is the second most reputable housing developer in Estonia, and most of the homes it develops already find an owner before construction even begins. Liven’s customers can design their homes according to their tastes and needs. What sets the company apart on the market is that, starting this year, each development project has its own interior architect-project manager, from whom the home buyer receives help in creating their home.
CEO of Liven AS