“Citus” projects: Kaunas is preparing for the start of the second phase of the “Radio City by CITUS” project

The second stage of the project “Radio City by CITUS” managed by the creative real estate projects and area development company “Citus” in Kaunas, in the prestigious Žaliakalnis district, is starting – the procedure for publicizing pre-project proposals has begun. At this stage, the conversion of the former Banga radio factory, which began four years ago, will include the second building of the two-body complex. The developer of the II stage of the project, the investment management company “Demus Asset Management” (formerly “Victory Funds”) plans to invest about 18.5 million in the project. Eur.

“This is very important news for us, because the second phase will mark the realization of the vision of the entire project. Žaliakalnis is a place with a special character and Kaunian spirit, which has been breathed new life into by Radio City by CITUS. There was trepidation at the start of a conversion phase of this size and complexity, but the project has proven successful, gaining customer interest and confidence and, once completed, will undoubtedly become one of the symbols of the area and the city as a whole. The entire complex of the former radio factory will get a new look, and the value of the property will grow faster in the finished project,” said Mantas Galdikas, director of Citus.

Mantas Galdikas. Citus archive photo.

For the body of the building located along Žemaičių st. was given the name “Minijas”, and the building in front of one of the most famous symbols of the city of Kaunas – the Church of the Resurrection – received the name “Dainas”. 14.2 thousand about 250 lofts and spaces for business are planned to be installed in the administrative, hotel and recreational premises of square meters. The area of ​​the lofts will vary from 20 to 100 square meters. m, in some it will be possible to install mezzanines. For the convenience of the residents and employees of the project, it is planned to install elevators and video surveillance cameras. The lofts will be able to be connected up to the desired size, and they will be equipped with underfloor heating.

Visualization of Radio City by CITUS. Citus archive photo.

The work on the project is planned to start in the fourth quarter of this year, after receiving the construction permit, and to be completed in 2027. I quarter Sales of Phase II of Radio City by CITUS will also begin with the start of construction.

The first phase included the “Nida” and “Banga” buildings located along Astronomijas st. and Savanorių pr. update. More than 8 thousand sq. m area, 184 lofts and 42 commercial premises were installed, most of which have already been sold. Currently, there is only one vacant loft and 4 commercial premises left.

Visualization of Radio City by CITUS. Citus archive photo.

“The project has become very attractive to investors due to the growth and development prospects of the district. Almost two-thirds of buyers purchased lofts for investment. Kaunas is a young city, often referred to as a student city, so property for rent in such a location and attractive investment returns are motivating to invest. We estimate that the assets acquired by Radio City by CITUS generate around 8-10%. annual return and we have clients who bought not one, but more – up to 10 lofts,” said the head of Citus.

In the first phase, a clinic, a printing shop, various shops, a dental clinic, beauty service places, a creative therapy house, and an art studio are already operating.

Also, all the new owners of the project own a roof terrace, which will be supplemented in the second stage: the roof of the “Minijas” and “Dainas” buildings will also be renovated and improved – equipped with rest and leisure areas, an extended observation path with a view of the excellent panorama of Kaunas Žaliakalnis, opening in one of the highest places in the city.

Visualization of Radio City by CITUS. Citus archive photo.

During the conversion of the former Kaunas radio factory and its transformation into “Radio City by CITUS”, the work started in the first phase continues. Most of the wall and ceiling structures of the building will be preserved, they will be repaired and strengthened, characteristic architectural details will be preserved – staircases (in accordance with fire safety requirements, a new, additional staircase will be installed in phase II), elevator shafts, etc., and a new character of the building will be created with different facades .

In the second phase, the second building of the former factory will be completely renovated: insulated and newly installed facades and a roof with terraces, new floor structures, internal partitions, elevators will be installed, all engineering systems will be replaced – water supply, heating, electricity, fire alarm, sewage, ventilation, individual accounting . Thanks to these solutions, the building will reach B energy efficiency class.

Visualization of Radio City by CITUS. Citus archive photo.

The parking lot will be arranged in the yard (152 spaces are expected to be installed), and landscaping will be installed. An underground car park with 87 spaces is also being designed. The construction of a new electrical transformer substation serving the entire project will also be completed.

The implementation of the architectural part of the conversion of “Radio City by CITUS” is continued by the well-known team of Kaunas architecture studio “Archas”: Gintaras Čepurna, Jolita Slendzoka, Tomas Kuleša, Mantas Navalinskas, Neringa Sobeščukaitė, Julija Platūkė, Jokūbas Platūkis. According to the project created by them, the original form of the building is preserved, and the industrial modernity of the “Radio City by CITUS” complex will be given different external facades: it is planned that the body of “Daina” on the side of the church will be covered with subtly reflecting panels, where one of the symbols of the city will be visible, and the project building will not compete with him; The facade of “Minija” will be decorated with mosaics of clinker tiles of different shades, sizes and textures, reminiscent of conversion projects in Copenhagen, London or New York.

Visualization of Radio City by CITUS. Citus archive photo.

In addition to “Radio City by CITUS” in Kaunas, the company “Citus” currently manages the projects “Mūnai by CITUS”, “Kaip Niuyorke by CITUS”, the completed “Miško ardai by CITUS” and “Nemunas by CITUS” in Druskininkai. In the near future, another housing project is planned in Vilnius, Justiniškės, but there will be more news.

Citus archive photo.