Estonia's Largest Grassroots Sports Event Gets New 10-Kilometer Route Through Volta Quarter Development
The new route of Swedbank Tallinn Marathon's most popular 10-kilometer Tallinn Autumn Run runs through Pelgulinn and Kalamaja and opens and introduces the renovating urban space to the public. Swedbank, the marathon's main sponsor, the organizers of Tallinn Marathon and Volta quarter developer Endover celebrated the start of cooperation with a ceremonial cornerstone laying for the third phase of Volta quarter development.
The historic Volta quarter, which had been closed for years, is gradually being completed and opening itself to the public again. As a sign of this, the most popular distance of Swedbank Tallinn Marathon, the 10-kilometer Tallinn Autumn Run, which is taking place for the 25th time this year, will already run this autumn through the new Uus-Volta and Mootori streets of Volta quarter. The cornerstone event held yesterday celebrated Swedbank's appointment as the new main sponsor of the marathon and the opening of Volta quarter to the public.
Running route as an excursion through renovating urban space
According to Mati Lilliallik, the main organizer of Swedbank Tallinn Marathon, new opportunities are sought each year to make the running routes more exciting for both runners and spectators. "For amateur sports enthusiasts, the 10-kilometer Tallinn Autumn Run is exactly that distance where different sections of the route offer stimulating entertainment and refreshing drink stations, along with exciting city views," said Lilliallik.
"We try to always surprise our long-time running fans with new route layouts. The rapid development of North Tallinn fortunately gives us increasingly more opportunities to make the journey exciting for runners and thereby introduce new city areas. We are like a modern guide, leading thousands of sports enthusiasts through an excursion from the edge of the Old Town through the historic Pelgulinn, the completely new-faced Volta quarter and along the running route along Kalaranna street to a real city tour," noted the main organizer of Swedbank Tallinn Marathon.
Historic Volta quarter welcomes with new views each year
Volta quarter is one of the most important and successful real estate developments in Tallinn's real estate market and for Endover. The over 100-year-old industrial quarter is being developed according to the 15-minute city principle. The total development volume of the quarter is 142,000 m2, the development plans over 750 apartments and preparations have been started for the construction of one of North Tallinn's largest business districts, during which 35,000 m2 of commercial space will be built.
The cornerstone laid as a mark of cooperation marked the beginning of construction of three new A-energy class apartment buildings in Volta Residences, which will welcome new residents already at the beginning of 2025. Endover CEO Robert Laud noted that currently 9 buildings are completed in the quarter and 4 more will be completed in the next 9 months. The cornerstone building Uus-Volta 10 will have 61 apartments ranging from 1 to 5 rooms and underneath them an underground weather-resistant parking lot will be built, which like the previous development phases aims to make the quarter's streets as car-free as possible. The buildings have solar panels on their roofs, electric car charging opportunities are guaranteed and parking options for bicycles are provided.
"When the running route passes through Volta quarter next year, we will see a completely different urban environment here and entirely new street views. On one hand, this provides excitement for runners, who can be surprised with something new every year. On the other hand, it signals to us as a developer that the real estate market is becoming more lively," explained Laud.
Swedbank is the new title and main sponsor of Tallinn Marathon
Tarmo Ulla, head of Swedbank's retail banking, said that as Estonia's largest bank, it is important for them to contribute to the promotion of healthy lifestyles and bring increasingly different options and opportunities to people. "Just as Swedbank has long invested in making quality financial education accessible through the Financial Information Center, thereby improving our people's financial health, we consider it equally important to support people's physical and mental health. Swedbank Tallinn Marathon, which brings together tens of thousands of smiling sports enthusiasts from Estonia and around the world over two days, is a true example of the success of promoting healthy lifestyles," said Ulla, and added that since 2005 Swedbank has supported the construction and development of Estonian health trails and since 2016 youth movement and sports projects.
"Health is our most precious asset, which must be continuously invested in. Therefore, we have taken it to heart long-term to promote movement opportunities for both young and old, for both hobbyists and athletes. Swedbank Tallinn Marathon also combines the joy of sports hobbies and the excitement of elite sports," said Ulla.
Renovating Volta quarter drives North Tallinn real estate market upwards
Both Tarmo Ulla, head of Swedbank's retail banking, which issues the most home loans in Estonia, and Endover CEO Robert Laud acknowledge that the real estate market is becoming more lively and the urban space is in constant change. "Interest in home loans has increased compared to last year and it can be assumed that the second half of 2024 will be even more active in the real estate market. Borrowers make considered decisions, and when choosing property, attention is also paid to the energy efficiency of the property," explained Ulla.
Robert Laud added that based on the first half of 2024, it can be said that Volta quarter is currently one of the most valuable new development areas in Tallinn. "Although more transactions are made per unit in Haabersti, then in terms of turnover North Tallinn has the largest transaction volume," said Laud.
According to data from Citify, which compiles real estate development statistics, out of 570 transactions on the Tallinn market with a total turnover of nearly 160 million euros, 128 were in North Tallinn with a total turnover of nearly 44 million euros. Haabersti's 176 transactions had a total turnover of nearly 38 million euros and Kesklinn's 85 transactions had a turnover of nearly 29 million euros. In North Tallinn, Volta quarter is overwhelmingly the most preferred choice for clients, where 27 families purchased homes in the first half of 2024. This is nearly a third more than in the next development. The value of North Tallinn is also shown by the level of asking prices, which is 5100 €/m2, while in the city center it is 4793 €/m2.
In the third development phase of Volta quarter, which received the cornerstone, three buildings with industrial exterior architecture will be built in Volta Residences, which fit together with the quarter's historic buildings. Apartments ranging from 43-131m2 have high ceilings, floor-to-ceiling windows and a balcony or terrace. To date, the largest apartments in all three buildings have been sold. "There is demand for large apartments in the market and we see that for a valuable location, well-thought-out planning and strong quality solutions, people are willing to pay a higher than average market price," said Endover CEO Robert Laud.
The first Uus-Volta 10 homes in Volta Residences will be completed at the beginning of 2025. The architectural solution was created by Apex Architecture Bureau, the main contractor is Metropoli Construction and the developer is Endover.
Swedbank Tallinn Marathon and Tallinn Autumn Run will take place on September 6-8, 2024. The Tallinn Marathon program, which involves thousands of running enthusiasts and sports hobbyists, includes a classic marathon run (42.2 km), half marathon (21.1 km), 10 km long Autumn Run, Nike Youth Run (5 km), Limpa Children's Runs (300 m) and for the first time Relay Marathon 42.2 km. The marathon and half marathon are running competitions with World Athletics Elite label organization level from the International Association of Athletics Federations, placing Tallinn Marathon among the fifty most prestigious marathons in the world.
