PHOTOS: Cornerstone Laid for New 16-Story High-Rise Stellar in Tallinn City Center
In the heart of Tallinn, the cornerstone was laid for Stellar, a modern residential building being developed by Novira Capital and Evernord for 54 million euros. The main contractor for the construction is Oma Ehitaja and the building will be completed in the summer of 2027.
Nikolay Kryzhanovskiy, CEO of Novira Capital, noted at the cornerstone ceremony that while in many cities around the world life is moving away from downtown business districts, the goal of Stellar is to bring people and life back to the heart of the capital. "Stellar is not just another building in the city center. We are creating tomorrow's urban space here in the Compass neighborhood and, as Meelis Press has promised us, the most innovative residential building in Tallinn," said Kryzhanovskiy, adding that the goal is to create a building that developers, partners, and future residents can all be proud of.
The architectural design of Stellar was created by Plus Architects Indrek Suigusaar and Tanno Tammesson in collaboration with architects Meelis Press. The architects of Stellar emphasize that the building's design has taken into account the city's long-term development and the appropriateness of the development to the surrounding environment. The design has focused on environmentally friendly solutions and the building meets the requirements for A-energy class and LEED Gold certification.
The high-rise building being constructed at Tartu maantee 15 is designed to have 152 apartments ranging from one to five rooms, sized between 30–160 square meters. The apartments are characterized by high ceilings and spacious windows that offer views of both the city and the sea. In addition, the building will also have a green courtyard with relaxation areas and playgrounds.
The most recent notable joint project of Novira Capital and Evernord was the A-class business quarter Novira Plaza Riga, completed last year in the heart of Riga, which was named the real estate project of the year in Latvia and Novira Capital was named the developer of the year.
Evernord Group, which manages investments in Estonia, Latvia, and Lithuania, provides asset management and corporate financing services, advises on asset and financial management matters, and currently manages five investment funds. The group's assets under management exceed 250 million euros.
Novira Capital is engaged in large-scale real estate development projects, the most well-known of which are Novira Plaza, Das Haus, Büroo 83, Merirahu Villad, and Kalaranna Kodu in Estonia and Novira Plaza Riga business quarter in Latvia.
