The real estate development company Realco has completed the construction of residential compound of apartment buildings Linkmenų ežerai in Vilnius. A total of 38 million euro were invested in a three-phase development of this compound and its infrastructure.
The compound is located in a relatively unknown place of Šnipiškės neighbourhood, which was previously filled with abandoned buildings. “Despite its poor condition at the time, we saw the area’s potential because of its great location in the city, richness of the surrounding nature and as many as five natural lakes in the vicinity. After construction of the new compound was completed, a road was built, bicycle paths were constructed, the territory of a nearby lake and surrounding green areas were put into order, children’s playgrounds and recreation sites were constructed. The once derelict urban area has become one of the most desirable places to live in Vilnius”, says CEO of Realco Julius Dovidonis.
The Vilnius City Municipality that is currently implementing the project aimed at restoration of landscape of the old channel of Neris River, also started paying attention to the adjacent area. Once the project is completed, green areas between Linkmenų and Geležinio vilko streets will be cleaned up and adapted to recreational needs of residents.
The residential compound project Linkmenų ežerai was implemented in three phases. The first phase started in 2015. A total of 828 new apartments were built during the five years of project development. Currently, almost all apartments have owners.
According to J. Dovidonis, the first two phases of the project implementation were extremely successful. The third phase, however, had even better results as 90 per cent of the apartments were sold before the construction was even completed. “We hear that people appreciate the compound’s location near the city centre and its well-developed infrastructure. When choosing a new home, many pay great attention to the surrounding environment. Nearby parks, green areas and other recreation sites are very important because all these factors determine the quality of life in the city”, says Julius Dovidonis.
The new compound stands out for its youthfulness. The average age of dwellers is 24–32 years. Mostly those are young couples and families.