Merko launches third stage of Paepargi apartment development

Merko has started construction of the third stage of the Paepargi residential development: by year’s end, three apartment buildings will be completed, with a total of 54 apartments. Interest has been high toward the first two stages and 108 apartments have been sold in the existing six buildings.

“Interest in the Paepargi apartments has been great and sales have been active – most of the apartments from the second stage launched in autumn 2012 were sold already prior to completion. The profile of the new residents is mainly well-off people in their late youth or early middle-age who previously lived in the vicinity of the same district. The appeal of the area has been enhanced by the high-value living environment that has arisen in the process of completion of the Paepargi recreational area. We’re glad to start construction of new apartment buildings that fit in well in this environment and we are already planning the next, fourth stage,” said the Director of Residential Building Division of Merko Ehitus Eesti Tiit Kuusik.

Kuusik said the Paepargi residential development boasts a good price-quality ratio thanks to the comprehensive approach taken to development, encompassing areas of cultural and environmental value, good infrastructure and location between the city centre and Kadriorg district, a trusted builder and quality finishing.

As part of the third stage, Merko will build three 4-storey buildings with 18 apartments each at the addresses Paepargi 17, 19 and 21. The buildings were designed by architect Erkki Ristoja and the interior architects were Eerik Olle and Ahti Peetersoo. Most apartments have a balcony and there is a choice between four interior finishing packages. The average price of a square metre in the new development stage ranges from 1600 to 1800 euros.

The Paepargi apartment buildings are located in the Sikupilli neighbourhood in Pae Park, in the immediate visibly of the city centre and Kadriorg district. Once a limestone quarry, the area has been transformed into a scenic pond, surrounded by a well-groomed park with fountain, bridge, observation platforms, playground and bicycle and footpaths. For the physically active, there is a pine bark mulch-covered ski trail running alongside the asphalt-surfaced sidewalk. The ski trail can be used by joggers in the summer. An area with stretching and exercise equipment and a petanque (lawn bowling) ground have also been established.