A WELL-KNOWN BUILDING IN TARTU OLD TOWN WILL BE TURNED INTO A LUXURY NEW DEVELOPMENT
Scandium Real Estate is developing a luxury apartment building on the corner of Rüütli and Laia streets in the Old Town of Tartu. The four-storey house will have one to three-room apartments, lofts stretching through two-storeys and several entertainment spaces for the residents of the house. The house will be named DUO Lofts. Construction will begin at the end of the year as Telia, which is currently operating in the house, moves to a new office.
DUO Lofts consist of two parts – the building built in Estonia before WWII and the extension built in the 1970s. Both sides of the house will be renovated. Historical elements are restored and preserved in the historical side, and with the help of top Estonian architects, the lobbies will be given back their original glory.
“We are proud to give new life to a historically very exciting building in the heart of Tartu. We have set ourselves the goal of creating the most luxurious apartment building in Tartu, where new homeowners, as well as home renters, can enjoy luxury. The lack of rental apartments in Tartu is well known, and when renovating the house we pay much attention to the demand of the rental market, adding additional options suitable for the tenants of the house,” says Maido Lüiste, Partner and CEO of Scandium Real Estate.
In addition to the apartments, the house will be provided with a gym for the occupants, a washing machine room, a private cinema, and a multimedia party room. A café-restaurant has also been planned for the ground floor.
«DUO Lofts bring a completely innovative real estate concept to Tartu. In addition to the 4m high ceilings and the first LOFTs in Tartu, the house offers much more to the residents than we used to expect from an apartment building. While a 24/7 gym and a cozy sun terrace can still be found in some developments, the private lounge cinema for movie nights with friends and the multifunctional banquet hall for special events are unique in the Estonian context,” adds Kalle Aron, Partner and Development Manager at Scandium Real Estate. The house is scheduled for completion in late autumn 2020.