Realco Begins Construction And Sale Of Vileišio 27 In Antakalnis

The real estate developer Realco has begun construction on a new residential project in Antakalnis and is now offering apartments for sale. This small higher-class development, known as Vileišio 27, will rise up on the banks of the Neris. Construction work is set to be completed within a year and a half. Realco will be investing 12 million euros in the development.

‘We believe in this project, as do our external partners – we have signed a credit agreement with Šiaulių Bankas for funding, so we’re entering the construction and sales stage with confidence. With news of the project beginning to spread, there has been significant interest in the property, which just goes to show that there is a real demand for residential properties of the upper segment in the capital. Although the real estate market is currently going through a slower period, we believe that we’ll be seeing more activity in the coming summer. At that point we’ll be able to show buyers a project that is already deep in the construction phase,’ says Realco CEO Julius Dovidonis.

The price of one square meter is now offered for upwards of 3,400 euros.

Situated on a site of almost half a hectare, the building will house 66 one- to four-room apartments, with floor areas ranging from 33 to 90 m². The project includes a 72-car underground parking lot, bicycle storage spaces, storerooms and a closed courtyard.

‘Back in the summer, when there was already talk of a slowdown in the real estate market and we were assessing the value of the project, we were in no doubt of its success. Projects that are nestled within the city but also give a sense of closeness to nature always appeal to buyers,’ explains Kęstutis Grinius, Head of the Corporate Clients Department for the Vilnius Region at Šiaulių Bankas.

Vileišio 27 is a truly special residential project because of its unique location in the city. Situated in one of the capital’s oldest and greenest districts, the apartment block will allow residents to enjoy nature’s serenity and the flow of the river while also being able to take advantage of fully-developed urban infrastructure. What is more, this is one of only a few new residential builds in Antakalnis.

‘Antakalnis is one of the most attractive districts in the city, but there aren’t many homes available for sale. Vileišio 27 will be situated in the very centre of Antakalnis, right by the Neris, which a share of the residents will get to see from their windows. Just a few steps from their front doors there are pedestrian and cycling lanes that run along the river. The building is surrounded by a wealth of educational institutions, shops and service amenities,’ lists Dovidonis.

The design of Vileišio 27 has been entrusted to Cloud Architektai. This architectural firm is also working on another Realco development – the Hero business centre that will rise in place of the former Ibrahim building.

Vileišio 27 is the second of Realco’s two upper-segment projects currently in active development. In the Naujamiestis district, the company is building Algirdo 3, a luxury-class apartment complex. Realco is also in the design stage for a development on Didlaukio St., and has announced the winners of an invitational architectural competition for a new residential development on Justiniškių St.

www.vileisio27.lt