Tartu City Government Issued Building Permit for Conversion of Historic Factory Building into Lofts

On March 21, 2023, Tartu City Government decided to issue a building permit for the construction of a new development by Domus Real Estate located at Jaama Street 52 - ALMÉ RESIDENCIES. In the former factory building with a historically accurate red brick facade, new, elegant and distinctive lofts will be built, and a gallery house unique in Tartu's real estate market will be created in the courtyard.

According to Elar Häidberg, a professional real estate broker organizing the sale of ALMÉ RESIDENCIES, there are no apartments with repetitive solutions in the project. "Most apartments have an atrium with a height of approximately 5.5 meters. Essentially all apartments have their own private courtyard area or a large balcony/terrace. This project is for people for whom home is a form of self-expression and boredom is not in their vocabulary," says Häidberg.

Ingvar Allekand, development manager at Domus Real Estate, said that ALMÉ RESIDENCIES is a long-awaited and valued project in Tartu's real estate market. "This is a very special project that emphasizes the combination of old and new elements and gives new life to one of Tartu's dignified examples of industrial architecture. We are confident that the new apartments offer not only visual appeal but also a comfortable and high-quality living environment. Essentially, this is trophy real estate, as the raw material we are working with is truly unique and architect Toivo Tammik and his team have done excellent work".

Professional appraiser Mihail Važnõi highlights the connection between history and the future. "Quality reconstruction of a building with more than 100 years of history combined with good functionality and distinctiveness is a good recipe for the growth of these apartments' secondary market value in the future," says the appraiser.

The completion deadline for the new homes is no later than the summer of 2024 and sales have already begun. Dorpat Ehitus, which has built several beautiful apartment buildings in Tartu, was selected as the contractor. Developer Almee Residentsid OÜ is a subsidiary of Domus Real Estate with more than 20 years of experience. In the Domus group, more than 21 residential and commercial buildings have been completed throughout Estonia.

Article author: Domus Real Estate