On 11 March 2016, together with the project co-financier DOMUSS SIA, Vastint Latvia SIA officially opened a local traffic lane on Kārļa Ulmaņa Avenue that stretches from Kalnciema Street to the newly-established Malduguņu Street, where the office park Business Garden and the residential project Lindenholma are soon to be built. Lane building works were carried out by SIA CBF Ļ-KO.
The newly-built local traffic lane will optimise traffic along this section of Kārļa Ulmaņa Avenue as well as ensure rapid and convenient access to both companies’ development sites. With this project, Vastint Latvia SIA will have fulfilled all the all prerequisites to begin construction of the Business Garden office park and the Lindenholma residential project. The external networks built within the development site entered service last year. In turn, the co-financier of the project: Domuss SIA plans to develop a multifunctional project in the adjacent territory of Kārļa Ulmaņa Avenue.
The local lane project involved not only the building of the lane itself, but also the installation of a bus stop beyond the Lielā Street junction for future public transportation routes. Dendrology studies were conducted on the development site, including the area for the local traffic lane. Trees were inventoried to determine those that are valuable and should be preserved, as well as those that may be cut down during construction. Specialists have helped to transplant valuable trees to the green zone foreseen in the project. New trees have been planted between the local lane and the sidewalk-bike path. The environmental landscaping was developed in accordance with the recommendations of SO “Apeirons” to ensure environmental accessibility for people with disabilities.
The project is developed by Vastint Latvia SIA, part of the Vastint Group – an international real estate organisation with over 25 years of experience, which has been active in the Latvian real estate market since 2003. The project is co-financed by Domuss SIA, a Latvian subsidiary of the US investment fund group NCH, with over 15 years of experience working with real estate, including administration, letting and sales. The project designer is SIA BRD projekts. Supervision of the construction was carried out by Riga City Council’s Traffic Department and SIA Aqua-Brambis.