Merko partners with Giga to build a new residential-commercial development in Tartu

A unique district on the banks of River Emajõgi in the city centre will become a contemporary residential environment and prestigious urban space in cooperation between Giga and Merko.

The former location of the Tartu boiler house has been rezoned for a residential and commercial building complex. The new quarter to take the place of the industrial area will have apartments and a hotel and office building, with the surrounding area getting a redesign into a functional urban space open to the public. The establishment of a riverside promenade for Tartu near Väike-Turu and Turu streets will transform the site into one of Tartu’s most appealing living environments.

“We’re pleased to launch our partnership with Merko, Estonia’s leading real estate developer, known for its years of experience, high construction quality and trustworthiness. Since Giga and Merko’s values are aligned, we believe we can enrich the Tartu city centre with high-quality apartments and commercial space,” said the managing director of OÜ Giga Investeeringud, Indrek Jakobsoo.

OÜ Merko Kodud management board member Indrek Tarto said: “For Merko, building a home starts much further from the door to the apartment. A home has to be surrounded by a valuable urban space, and the immediate vicinity of the home has to be comfortable and safe and the apartment building’s shared areas should give residents a maximum added value. We’re very glad to share the same quality aims with the Giga team.”

The site plans call for 16.800 square metres of above-ground built space on the Turu 18 plot with its attractive location on the river. The draft design documentation specifies three six-storey buildings, plus commercial units. The buildings will share a parking level and will be surrounded by contemporary, multifaceted urban space that will make the home even more pleasant for its inhabitants and open up the riverside to Tartu townsfolk with a unique promenade.

OÜ Giga Investeeringud and OÜ Merko Kodud founded a joint venture, Turu 18 Kodud OÜ, to manage the project. The design development is under way and the two companies are gearing up for construction.

Considering the amount of space devoted to the residential buildings and the hotel and office building on the adjacent plot, the former Tartu boiler plant is one of the largest developments in the city centre of Tartu. A total of 40,000 square metres is planned to be developed, including the floorspace of the 200 apartments, 15,000 square metres of commercial space and approximately 10,000 square metres of underground parking. The buildings will be designed as envisioned by the winner of an architecture competition, Kadarik Tüür Arhitektid, while the winner of the competition for the quarter’s spatial plan is Arhitekt Must OÜ.

Until the project’s website is fully up and running, visit gigainvesteeringud.ee/elamukinnisvara/turu-18-elukondlik to find out more and indicate interest in buying or leasing.