Estonia, EU – Baltic States, Good for Business, History, Real Estate, Tourism

The building is being converted into 40 luxurious apartments with reconstruction works to be completed in 2013. The building would be ready for full usage in 2013, writes LETA.

The show unit on the fourth floor, for the first time in Estonia, opened before the completion of the construction works, is to showcase the luxurious fittings and quality of materials provided. The reconstruction's architectural solutions are provided by architectural firm ARS Projekt.

The development costs 14 million euro, including the purchase price, and is financed by Nordea Bank and main contractor is construction company Oma Ehitaja. Currently, about 40 percent of the apartments have been sold.

The history of Pagari 1 dates back to 1911, when William Tulip, a British citizen, bought three plots in the crossroads of Pagari, Pikk and Lai streets in Tallinn. In 1912, an exquisite apartment and office building, designed by the architect Hans Schmidt, was erected. By proportions and heritage details, the five-storey residence reminds of spectacular buildings in Europe.

The architecturally rich project Pagari One has a unique 100-year-old history. Built as a five-storey residence, it is blessed with the fine proportion and heritage details of a European mansion, as operators of the project state.

Although it was once used as a public office, Pagari One has undergone a transformation provided by one of Tallin's most popular architectural firms ARS Projekt, whose forward-thinking and artistic acumen have revitalised residential, hotel and commercial projects throughout Europe. A developer of the project is Tolaram Group, as the information on the project's home page says.

Pagari One will consist of 42 luxury apartments boasting top quality materials and finishes. These exceptional living spaces will be complemented by a stylish restaurant and a museum within its premises, making Pagari One Tallinn’s most prestigious residential address to date.