PHOTO GALLERY: Pro Kapital Held Topping-Out Ceremony for the Last Houses of Kalaranna Quarter
The last 4 buildings of Kalaranna Quarter, which are rising at the edge of Tallinn's Old Town, have reached their full height, and developer Pro Kapital held a topping-out ceremony on Friday together with the builders. Construction of the quarter, which began in 2019, will be completed fully next spring, but the first homes in the new buildings will be handed over at the end of this year.
According to Maria Varblase, Pro Kapital's marketing and sales director, a topping-out ceremony is always a sign that construction is entering its final phase and an opportunity to convey the thanks of the developers and future homeowners or tenants to the large construction team that works on site daily. "Of the 146 apartments currently under construction in Kalaranna's second and final phase, 40% have already found an owner, and all commercial spaces on the ground floors of the buildings have also been sold," she noted.
Kalaranna Quarter's homes are an exclusive product, and there is nothing comparable with such a location and sea views in Tallinn. "Our main client today is Estonian, and a large part of the buyers are clients who have already purchased an apartment or several apartments in this area when the first phase of the quarter was completed. These are people who value the advantages of this specific location, the potential of the area, and the good construction quality of the quarter's buildings," characterized Maria Varblase the current state of the real estate market from Kalaranna Quarter's perspective.
The versatile and architecturally enriching Kalaranna Quarter is, according to Varblase, undoubtedly one of the most anticipated large city quarters in Tallinn, which for the first time opens a dialogue between the sea and the city in the city center. The quarter has been built as a car-free urban space, where parking is completely underground. Thanks to its location and waterfront promenade, the seaside urban quarter has become, in recent years, a nice place to spend time for both Tallinn residents and visitors.
Kalaranna Quarter, which has been in development for nearly a decade, was created by Pro Kapital in cooperation with architects Mihkel Tüür and Ott Kadarik (Kadarik Tüür Architects). The landscape architects are Maarja Tüür and Kerttu Kõll (Sfäär Planeeringud), and the interior architect of the homes is Galina Burnakova.
Kalaranna Quarter will be completed in two phases over six years. The quarter contains a total of twelve four- and five-story buildings with a gross area of approximately 38,300 m2. The facade finishing has varying tones and textures: natural stone, wood, aluminum-composite panels, and brick are used, for example. In accordance with the detailed plan, a one-story underground parking lot of 20,000 m2 with approximately 450 parking spaces has been built on the property.
Pro Kapital Group, which is celebrating its 30th year of operation this year, is a listed company that creates urban space-enriching, comprehensive and versatile living environments in the best locations in the Baltic capitals. The company has developed approximately 270,000 m2 of real estate and has a real estate portfolio of roughly the same size still awaiting development.
Kalaranna Quarter photo gallery: https://www.prokapital.ee/omapilv/index.php/s/scQJFJCN9t5M8i3
