A cornerstone was laid in Pärnu for the riverside Uuskalamehe residential quarter

Today, the cornerstone was laid for the construction of the Uuskalamehe residential quarter located by the Pärnu River. This is a district with an atmosphere similar to Tallinn's Telliskivi or Tartu's Aparaaditehas, where 69 residential apartments are now being built. The first apartments will be completed next summer.

According to Ingmar Saksing, member of the board of LVM Kinnisvara, until now the undisputed first preference for the demanding buyer in Pärnu has been the seashore and the seaside area, but by now the environment has changed – life is flowing to the riverside. "In recent years, the city center area has developed rapidly, and the construction of the third bridge is underway. The seaside district has many restrictions and few vacant plots suitable for building modern living environments – but buyers want something new and modern. Combined, this has led to active construction activity on the banks of the Pärnu River," he explained.

In describing the Uuskalamehe quarter, Saksing said that the new apartments being completed in the already active Kalamehe quarter will account for approximately one tenth of all the apartments currently actively for sale in Pärnu. The approximately 70 apartments designed by Architect11 take into account the wishes of the more demanding home buyer, combining privacy, greenery, riverside location, and easy connection to the city center. In the first phase, smaller 2-3 room apartments will be built, and later larger 4-5 room apartments will be added. "Of the 24 homes currently for sale and scheduled to be completed first, 13 have already been sold or reserved within a month – so it can be said that buyer interest is higher than average," noted Saksing.

According to Ingmar Saksing, there is room in the Pärnu market for a creative city similar to Telliskivi or Aparaaditehas. "The buyers are current or former Pärnu residents, not foreigners. Pärnu has accumulated a sufficient number of people working in the creative economy and valuing a peaceful lifestyle," emphasized Saksing. "The quarter is located in the city center and by the river, and as a former industrial area, there is great potential for regeneration here."

The developer of the quarter is AS Kooli Investeeringud, whose owners include LVM Kinnisvara along with various partners. The development cost is 12 million euros.