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.
“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 this project breathed new life into. 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 face, and the value of the property will grow faster in the completed project,” says Mantas Galdikas, director of Citus.
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.
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
The first stage included other 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.
“The project has become very attractive to investors due to the growing value of the district’s growth and development prospects. 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 acquired property generates about 8-10 percent. annual return and we have customers who bought not one, but more – even up to 10 lofts”, says the head of the company.
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 roofs of the buildings will also be renovated and activated – equipped with rest and leisure areas, an extended observation path with a view of the excellent panorama of Kaunas Žaliakalnis, opening at one of the highest places in the city.
During the conversion of the former Kaunas radio factory, 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.
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 aforementioned conversion is being 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 will be preserved, and the complex will be given industrial modernity by 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 building of the project will not compete with it; 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.
