The Topping Out Ceremony has been held at the multi-apartment project at Balozu Street 9

The Topping Out Ceremony has been held at the multi-apartment project at Balozu Street 9. This Residential apartment building is the third project of Estonian developer Hepsor in Āgenskalns, that is planned to be commissioned early next year.On Friday, June 18, at 9 Baložu Street, a wreath was placed on the roof of the future residential building, honoring the ancient tradition of the Topping Out Ceremony. This marks the moment when the highest point of the building is reached and the roof load-bearing structures are completed, also expressing as gratitude towards builder’s work. The audience was addressed by Marti Krass Member of the Management Board Hepsor SIA, who praised the cooperation of project team – Diana Zalana, representing Diana Zalane's project office, Agne Serdane, representing Teeja Architects and contractor Mitt & Perlebach, thanked Bigbank, that is financing the project, and all cooperation partners who have been participating the project implementation process.

“We are pleased that construction is in full swing and soon we will be able to commission Hepsor's third project in Āgenskalns – a visually attractive house that combines the building's historical values ​​and modern architecture creating a visually appealing and complementary environment in Āgenskalns. We also welcome the reaction of customers, as 75% of the apartments available in the building have already been pre-sold before the completion of the building carcass. We are grateful to the customers for their trust and look forward to the moment when the construction will be completed and we will be able to hand over the new apartments to their owners,“ says Martti Krass.According to one of the authors of the project Diāna Zālāne, it is pleasant to see the outlines of the restored historic building between the three streets of Āgenskalns. The story of the historic building in this place began around 1880, when a new wooden house was built on the street corner according to the project of architect Otto Dīce. Over time, the owners of the building have changed, which has affected the architectural ensemble of the building. During the implementation of the new project, the historic wooden building was measured, wooden details were enumerated and the history of the building was studied to save as much from the historical details as possible. Agne Serdāne mentions that although several building development concepts were created during the design, the decision to keep the historical volumes of the building including the unique tower and wooden details as close as possible to the previous building has justified itself and the result is expected to be really great. Agne points out that this project is a sample of excellent cooperation between the public, the developer, the Construction Board, preserving the environment and the historic construction values.

The construction of the project at Baložu Street 9 was started at the end of 2020, when shortly after the announcement, half of the apartments available in the project were sold out. The building is planned to be commissioned at the beginning of next year. A total of 18 apartments will be available in the three-storey building. All apartments are offered with high quality finishing. It is currently possible to apply for a reservation for two 2-room apartments and three 4-room apartments. The project also offers warehouses and parking. Recreation and playground area will be available in the closed, green yard. For the safety of the residents, there will also be 24-hour video surveillance.The project is being developed in cooperation with Bigbank, that is financing the development of this project. The total amount of investment in this project is around 2.6 million euros. “Our cooperation with Hepsor team has assured us that this company is developing high-quality residential buildings that meet the needs of customers. This is also proved by high demand and positive feedback from buyers. This project is developed in a successful location close to the center of Riga at the same time offering the quiet, cozy atmosphere and green environment typical of Āgenskalns. We are really pleased that we have managed to establish close cooperation with the Hepsor thus helping to develop high value and good quality projects in Latvia,“ praises Mareks Grodskis, Head of Corporate Lending at Bigbank Latvia.

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About Hepsor

Baložu Street 9 project is by Estonian real estate developer Hepsor. The company has been operating in Latvia since the end of 2017 and in cooperation with the Estonian construction company “Mitt & Perlebach“ implements several residential projects in the quiet center of the capital and Agenskalns, as well as develops commercial premises on the outskirts of Riga. This will be the developer's fourth project in Riga. Years of experience in the Estonian real estate market allow “Hepsor“ to find high-quality and innovative construction solutions. In the coming years, Hepsor will make large-scale investments not only in the residential but also in the commercial segment, including the construction project “Krasta City“ on the right bank of the river Daugava.

About Bigbank

AS Bigbank is an Estonian bank specialising in consumer credit and corporate loans, as well as in providing profitable term deposit services. The company expanded its activities outside Estonia, establishing branches in Finland, Sweden, Latvia, Lithuania, Bulgaria, as well as offering cross-border services in Austria, Germany and the Netherlands. The company is led by Martin Länts, a Board Member of the Group. Sven Raba, Mart Veskimägi and Argo Kiltsmann are also Members of the Board.