Vilnius City Municipality has issued a permit for the construction of the Hero business centre owned by Realco, a real estate development company, in the central business district of the capital city, Lvivo Street (formerly Lvovo Street).
“This is very good and long-awaited news. We had planned to start construction of the Hero business centre as soon as we received the building permit, but due to the current geopolitical situation and uncertainty in the market, we decided to take our time. Active negotiations with potential tenants are planned in conjunction with the beginning of the first construction works, which will be announced later,” Julius Dovidonis, CEO of Realco UAB, said.
The Hero business centre, which will be built on the site of the Ibrahim shopping centre, will consist of two 15- and 14-storey buildings connected by a three-storey stylobate. The business centre will add almost 31,000 sqm of leasable area to the supply of Class A offices. The building provides 481 underground parking spaces and 63 outdoor parking spaces.
“When we bought the land plot in Lvivo Street, we knew that the Hero business centre would be an ambitious project and a significant step on our company’s sustainability path. Although the project coordination process took 2 years, we believe that we have managed to blend harmoniously into the ensemble of new buildings in Šnipiškės and to fulfil the potential of the area next to one of the busiest traffic arteries in Vilnius – Kalvarijų Street,” Mr. Dovidonis said.
The development company will try to achieve the country’s first WELL Certification for Healthy Offices from the International WELL Building Institute™ (IWBI™) for the Hero business centre. With that goal, the business centre will be evaluated by the Institute experts against more than 100 criteria for healthy offices. Realco also expects Hero to meet the criteria for BREEAM Excellence, one of the highest certifications in the sustainable building rating system.
The real estate development company Realco acquired the Ibrahim Shopping Center building and land plot in 2018. The idea for the Hero business centre was conceived by Professor Edmundas Stasiulis and Cloud Architektai UAB.
The company Realco has already developed four business centres in the territory of Vilnius Ozas Park – Ozas Offices and Penta. They cover a total area of 55,000 square metres.