2022/07/19
This week, the real estate developer Realco has begun demolition work on the above-ground structures of a commercial property formerly known as the Ibrahim building. In place of the property, located in the city’s central business district, Realco plans to erect Hero, the first health-oriented office complex in Lithuania.
‘After an intense two years of work on the blueprints and getting them approved, we have been given the green light for the construction of the Hero business centre. Located in the heart of the capital, the Ibrahim building has long been a sorry sight. We have begun demolition and site clean-up work as planned. We are also preparing for the initiation of the construction phase and negotiating with potential contractors,’ explains Realco CEO Julius Dovidonis.
Demolition work is set for completion in September.
The territory of the former Ibrahim building on 21B Lvivo St. will be the site of the Hero business centre, composed of a 3-storey stylobate connecting two 15- and 14-storey high-rises. The new business centre will add 31,000 m2 of class A office space to the capital’s office market and will mark a new stage in the development of business centres in Lithuania.
‘In a representative part of the city, we will be offering the market a modern and functional business centre. Among the most important advantages the Hero building will be offering are the concept of a healthy office space and the possibility of leasing a large area of up to 3,800 m2 on a single floor,’ highlights Dovidonis.
The first floor of the business centre will be housing food and beverage outlets, various service and retail spaces and a spacious vestibule connecting Lvivo and Kalvarijų Street. The design includes a 438-vehicle underground parking lot with designated spaces for electric cars. Plans also include a generous bicycle storage space.
The development is the first in the country to aim for the international WELL Building Standard as well as the Breeam Excellent certificate for sustainable buildings.
Designed with a great sense of responsibility, the public spaces that will be surrounding the Hero building will consist of horticultural elements, street architecture, lighting solutions, pedestrian paths and cycling lanes.