30.07.2021 - Real estate

Preses Nama Kvartāls’ 2nd stage construction is scheduled

The real estate developer Lords LB Special Fund V started designing the second stage of Preses Nama Kvartāls in June this year. Latvian architects ARHIS ARHITEKTI will design the educational function, while the Danish company PLH Arhitekter will be in charge of the design of the A-class office building. The second stage construction of Preses Nama Kvartāls is scheduled to start at the end of 2022.
According to the signed agreement, architects must complete the building designs in 18 months.

“Pārdaugava, the area on the left bank of River Daugava, is undergoing major changes. The neighbourhood, which houses such academic institutions as the Riga Technical University, RISEBA University of Applied Sciences, and University of Latvia, will be joined by yet another educational facility. This is an important asset of the new development, which will offer the prospective students a well-planned recreational area and sports infrastructure on the rooftop of the Preses Nama Kvartāls’ multifunctional centre. Conveniently located within the area dubbed the Knowledge Mile, which offers a wide range of leisure activities in the vicinity, the new development has the potential to become the heart of Riga’s academic environment,” says Giedrius Bernotas, the representative of Preses Nama Kvartāls’ developer.

Lords LB Special Fund V, the project developer, reveals that it is discussing possible cooperation with several educational institutions, however no names have been revealed yet. The developer notes they are seeking a reliable long-term partner with a shared vision on future cooperation, willingness to provide modern education, and improve social lives of the Pārdaugava community.

According to the signed agreement, ARHIS ARHITEKTI will design a modern educational facility located opposite Riga’s historical centre within the revitalised Zunda Channel area. The project foresees construction of a five-storey educational building with 5,500 square meters of floor space. The construction works are expected to be completed by the start of 2024.

“A modern school building is a forward-looking architectural contribution in synergy with the site’s historical heritage. By developing the area, we continue to create the longitudinal centre of Riga, offering educational, cultural, business, and residential functions. A modern educational facility with well-planned surroundings will add a more humane touch and dynamics to the future Pārdaugava, making it more appealing to its inhabitants and city guests,” emphasises ARHIS ARHITEKTI CEO Andris Kronbergs.

At the same time, the renowned Danish architectural firm PLH Arhitekter will design an A-class office building. The building will boast sustainable architectural solutions and will conform to the nearly zero-energy building requirements, resulting into high energy performance. The 25,000-square-meter-area building will be located next to the Zunda Channel.

The project developer Lords LB Special Fund V will carry out significant improvements in the area surrounding the Zunda Channel. Revitalisation of this place will turn the left bank of River Daugava into an appealing neighbourhood, delighting its inhabitants and city guests.

Lords LB Special Fund V is managed by Lords LB Asset Management, a licenced fund management company supervised by the Bank of Lithuania, which has provided services to both institutional and private investors since 2008. The company manages a total of 15 funds: 12 real estate funds, 2 private capital funds, and 1 energy and infrastructure fund. At the end of December 2020, the total value of Lords LB Asset Management’s assets stood at €660.2 million.

Source: lordslb.com

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