The Cornerstone Ceremony Today for the 54 Million Euro High-Rise Stellar in Downtown Tallinn
Today, a modern 16-story residential building Stellar is receiving its cornerstone in central Tallinn, with Novira Capital and Evernord investing 54 million euros in its construction. The main contractor is Oma Ehitaja and the building will be completed in summer 2027.
The high-rise being completed in the Kompassi district at Tartu maantee 15 will bring new urban quality and top-level architecture to the area, which naturally fits with the surrounding environment. "Our goal is to bring people back to the heart of the city, just a few steps away from everything needed, and to create modern homes where, alongside all the conveniences of city life, there is also enough peace and privacy," says Nikolay Kryzhanovskiy, CEO of Novira Capital.
The building's architects are Pluss architects Indrek Suigusaar and Tanno Tammesson, and the interior solutions were created by the team of Meelis Press architects. "There are many new modern office buildings in Tallinn, but Stellar will certainly become the capital's most innovative residential building," emphasizes architect Meelis Press.
One unique value of the building is the sea views, which will remain in the future, because according to Tallinn city's master plan for high-rises, no new structure in the future will be able to obstruct the views of residents in the upper floors of Stellar. "What made Stellar's design special was the need to consider the city's development and assess how the surrounding urban space will change over time. We also worked through scenarios where new buildings might emerge in the future or existing ones might disappear," describes Tanno Tammesson from Pluss architects.
The building is designed to include 152 bright and spacious one- to five-room apartments ranging from 30–160 square meters, complemented by high ceilings and large windows. In addition to the apartments, a green courtyard will be built with relaxation areas and playgrounds, offering a cozy living environment for both children and adults. The design has focused on modern and environmentally friendly solutions, and the building meets the requirements of A-energy class and LEED Gold certification.
The most recent notable joint project of Novira Capital and Evernord was the A-class business quarter Novira Plaza Riga, completed last year in central Riga, which was selected as Latvia's real estate project of the year and Novira Capital as 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 assets managed by the group exceed 250 million euros.
Novira Capital engages in large-scale real estate project development, the most notable of which are Novira Plaza, Das Haus, Büroo 83, Merirahu Villad and Kalaranna Kodu in Estonia and Novira Plaza Riga business quarter in Latvia
