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	Riversaidas in Klaipeda

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PROJECTS › Riversaidas in Klaipeda

Riversaidas – an exclusive waterfront project in the heart of Klaipeda

Along the Dane River close to Klaipeda’s Old Town is a property more than 5 hectares (13 acres) in size where Soviet-style warehouses and factories once stood. Verdispar, on behalf of Scandinavian investors, acquired this lot at 8 Bastijonu Street and 9 Gluosniu Street in Lithuania's seaport city of Klaipeda, demolished the old buildings, cleaned the site and is undertaking an exclusive, exceptional and unique residential and commercial project called Riversaidas.

Verdispar and its partners have finalized the concept and the detailed planning of the project, as well as all other related project preparation works. Plans for construction of Riversaidas have been temporarily postponed due the current market situation. However, construction of the project will resume as soon as the market situation improves.

The lot we acquired begins at Klaipeda’s famous Jono Kalnelis, a small island surrounded by ponds and canals that has served as a major venue for city festivals and other social events for years. We plan to develop commercial and public facilities there, to strengthen the island’s mission as a gathering place for city residents.

The Riversaidas project will be developed in three stages. The first stage will involve construction of two low-rise (2-3 floors) buildings just across the water from Jono Kalnelis, at 8 Bastionu Street. The ground floor of the buildings will be designed for commercial use - small cafes, restaurants, boutiques, a gym, a pharmacy, a beauty parlor and similar businesses. Exclusive apartments will be constructed on the second and third floors of the buildings erected during stage one – most of them with a unique view of Jono Kalnelis, the Old Town of Klaipeda and the Dane River.

Riversaidas’ Stages 2 and 3 will be erected further along the Dane River. Some 3,000 sq. m (32,000 sq. ft.) of commercial space and more than 42,000 sq. m (452,000 sq. m) of residential units will be built during Stages 2 & 3. Riversaidas will form a unique space in Klaipeda for a convenient lifestyle that will meet Western European standards a space that we can proudly call the centerpiece of this Lithuanian port city.

The existing canals will be integrated into the new development. The ground floors of canal-side buildings will include cafes, restaurants and boutiques. Our goal is to bring new life to the canals. Verdispar’s housing and commercial project will be similar to Stockholm’s Hammarby Sjöstad residential project, a perfect example of how old industrial sites in a city center can be converted into attractive, modern living areas. The Stockholm project has attracted worldwide recognition, and we will strive to incorporate the best of that project in Klaipeda.

In developing the Riversaidas concept with our partners, we have made every effort to create a comprehensive district that reflects the spirit of Klaipeda, while showing a Scandinavian understanding of a graceful, practical living environment. We have striven to avoid sophisticated but unnecessary and non-functional architectural details. Architectural solutions that are easy to understand, rational, functional and simple - and most importantly, convenient for the residents - represent one of the key features of this new neighborhood.

Stage 1 of the project will be separated from Stages 2 & 3 by the planned Bastijonu Street, which will be built upon the completion of stage one. The design of the surrounding environment will include installation of walkways, landscaping (trees and other greenery) and leisure amenities such as benches, sculptures, a basketball court, playgrounds and outdoor cafes.

The buildings in our project will not offer different levels of luxury – they will be balanced in terms of building materials and technological solutions. The buildings will be simple, attractive and integrated into the greenery. We believe it is important to avoid very expensive, luxury buildings materials – the focus should be on rationality and durability rather than luxury.

Building materials and construction solutions will be environmentally friendly and healthy for residents: natural materials will be used to be sure that the residential buildings are free from materials and chemicals that may adversely impact the indoor and outdoor environment or human health. The apartments in the residential project will feature efficient open plan solutions with high ceilings and large windows offering light and spaciousness. Our ambition is that every apartment will have a terrace, balcony or veranda.

This new Verdispar commercial and residential development will definitely become one of the major landmarks in the seaport city of Klaipeda. The commercial premises near Jono Kalnelis as well as along the river on the ground floors of residential buildings will breathe new life into the area for the city’s inhabitants. At the same time, residents of the project will enjoy a central location, harmonized with their needs for privacy and security.

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