Invego Develops New Residential Quarter in Riga's Torņakalna Terases with 45 Million Euro Investment
Real estate developer Invego is investing more than 45 million euros in the construction of a new residential quarter called Torņakalna Terases in the Vienibas area of Riga. Construction of the development, which will consist of three buildings and 226 homes, will begin in the first quarter of 2027, with the first homes completed by the end of 2028.
According to Kristjan-Thor Vähi, head of Invego, the residential quarter at Torņakalna Terases is centered around an innovative architectural solution. "The tiered building design and spacious balconies are planned so that as much natural light and surrounding greenery as possible reaches the homes," Vähi explains, adding that thanks to the V-shaped building layout, residents will also have a spacious, green, and private courtyard.
Vähi emphasizes the strong identity of the Torņakalna area, which was also taken into account when planning the residential quarter. "The entire area is developing and investments are being made in both public space and infrastructure, a good example of which is the Mūkusalas promenade along the Daugava River," explains the head of Invego, adding that the Torņakalna Terases residential quarter to be built also shares the character and essence of the area.
In the vicinity are important educational and scientific institutions, such as the University of Latvia's academic campus and the LU research building, and also parks such as Arkādijas and Uzvaras, which enhance the attractiveness of the area. The choice of homes at Torņakalna Terases is wide, and suitable solutions are offered for everyone from families with children to students.
The architectural solution of Torņakalna Terases is based on terraced construction, where tiered and spacious balconies bring more daylight and greenery into the buildings. In the placement of buildings, the principle has been to preserve as much of the existing vegetation as possible and to create a spacious green courtyard and a nature-friendly living environment. In total, three buildings are planned to contain 226 apartments.
About Invego
Invego is a next-generation real estate developer operating in three countries, specializing in the construction of large residential areas and business quarters with comprehensive concepts that create the urban spaces of the future. Invego group companies in Estonia, Latvia, and Portugal currently have around 30 different development projects in progress. Invego has developed 150,000 m2 including 1,500 homes and more than 50,000 m2 of commercial space, with another 450,000 m2 of residential and commercial real estate in progress.
