Marienholm II Laid Foundation Stone: Haapsalu Coastal Peninsula Development Moves to Next Phase

Yesterday, October 14th, a cornerstone was laid in Haapsalu for the second phase of the Marienholm living environment, where Scandium Real Estate will build 25 waterfront apartments and a new park area. With an investment of eight million euros, the transformation of the former industrial area into a comprehensive waterfront living environment continues. The building will be completed in the summer of 2027.

Marienholm II is the next step in the comprehensive development of the Haapsalu peninsula. The first phase, completed in the summer of 2025, with five residential buildings and 50 apartments, has already been practically sold out. Of the second phase apartments, 35% have already found buyers, confirming continued interest in the area and waterfront homes. The cornerstone for the new phase of Läänemaa's largest development was laid by Haapsalu Mayor Olavi Seisonen, Scandium Real Estate board member Kalle Aron, and Grand Construction manager Aare Saliste.

"The success of Marienholm's first phase shows that people value a comprehensive living environment where architecture, nature, and everyday convenience support each other. Located just an hour away from Tallinn, Haapsalu is an attractive home or vacation spot for many, where one can escape the hustle and bustle of the capital and improve quality of life. The sales success so far gives us confidence to continue developing the entire peninsula, and the second phase is an important milestone on this path," said Kalle Aron, board member of Scandium Real Estate.

Architecture that responds to the waterfront location

The building, designed by BOA Architects, is characterized by structural white concrete and terraces with rounded edges. The interior architecture vision for the apartments was created by Hanna Karits. The selection includes homes ranging from single-room studios to spacious penthouses.

All apartments come with enclosed summer rooms, which extend the usable season of the terraces and allow you to enjoy the waterfront environment even in cooler weather. The residential floors begin on the second floor, and the parking area is concealed by a green dune, which connects the building to the surrounding landscape.

Construction of the second phase began this July, and Grand Construction OÜ is the main contractor. The cornerstone laying marks an important milestone on the path to the building's completion.

From former industrial area to new living environment

Marienholm is located in Haapsalu on a peninsula by Suure Viik, surrounded by approximately 2.2 kilometers of coastline. The development opens up and renovates an area previously used for industrial purposes and creates new homes and recreational areas for Haapsalu, as well as a yacht harbor, restaurant, and spa hotel. When the entire development is completed, Marienholm will represent an approximately 80 million euro investment in creating a modern waterfront living environment.

Already awarded multiple honors

To date, Marienholm has already won several awards, including the Hans Alver Architecture Award, the international Luxury Awards for best luxury urban space revitalization, and the Läänemaa 2025 Most Ambitious Project Award.