Vilnius City Municipality has issued a building permit for the construction of Algirdo 3, a high-end residential project in Naujamiestis, Algirdo Street. Realco, the real estate developer developing the project, announces that it will start construction work immediately, and also informs that apartment sales will start later. The company plans to invest around EUR 16 million in the project.
“Algirdo 3 is our first high-end project in Vilnius. We wanted it to be unique, so we gave the architects a lot of freedom when creating the project proposals. They appreciated it and created a great project. We want to make the most of it, so we will invest in the architectural solutions, the materials used in the project and the modern technologies,” Julius Dovidonis, Realco’s CEO, said.
The almost 0.5 ha land plot is designed as a housing complex with an enclosed courtyard formed by the buildings, a perimeter development typical of this historic part of the city. A total of 96 low-rise (2–5 storey) dwellings are planned for the complex: townhouses, penthouses, and city apartments. On the ground floor of the building, 6 commercial premises are planned parallel to Algirdo Street. The project’s distinctive vision is realised by the architectural studio Arches.
“We knew from the beginning that Realco wanted to develop a high-end residential project on the site that would make the urban lifestyle even more attractive. Atypical architectural solutions, the creation of a closed, yet spacious courtyard characteristic of Naujamiestis and designed for residents’ interests, high quality natural finishing materials and especially private spaces for each apartment will create a special aura and a feeling of space. I am sincerely pleased that the final look of the project is fully in line with our original ideas and that the quality bar set as high as possible is maintained. The project will result in a model top-class residential townhouse complex,” Edgaras Neniškis, one of the Algirdo 3 project’s architects, said.
The project’s focus on an exceptional and sustainable quality of life is evidenced not only by the contextual spatial-functional solutions, but also by the planned use of smart home technologies as well as high-quality and durable materials. According to Mr. Neniškis, partner and architect of Arches, the project’s facades and interior finishes will be dominated by pink natural stone, while terraces and balconies – by specially processed wood, which will blend in with the rooftop greenery, and also the use of multifunctional facade glass, with a special focus on soundproofing the rooms.
The urban and architectural solutions will make the project distinctive, ensuring special attention to the environment and the privacy of future residents. The latter will be further enhanced by the creation of a richly landscaped inner courtyard resembling an English garden, with recreation areas, playgrounds, and sports fields.
Mr. Dovidonis, CEO of Realco, is honest: interest in the Algirdo 3 project is huge and hasn’t waned since the first day the company announced its plans. However, the market will have to wait for the launch of the project’s sales.
“We were looking forward to starting work on the project site, so we are delighted to have received the building permit. We are in talks with potential construction contractors and are concluding contracts, but this time we will be unpopular and announce the start of the sale of apartments at a later stage, when the construction is in progress,” Mr. Dovidonis revealed.
The construction of Algirdo 3 project is planned to take two years.
Realco plans to start construction of another higher-class project. The company will build Vileišio 27, a 70-apartment residential project in the prestigious location of Antakalnis, on the bank of the Neris River.