180 dzīvokļu attīstības projekts pie Dienvidu tilta

Development project in Riga near the Southern Bridge – 180 apartments

For sale: a fully prepared residential development project located at 12 Ūpju Street, Riga, in a strategically advantageous location near the Southern Bridge (Dienvidu tilts).

The project envisages the construction of four 3-storey apartment buildings with a total of 180 apartments, developed in four construction phases, allowing the developer to optimize investment cash flow and reduce development risk.

The site already has the main utilities installed and a building permit in minimum design stage, allowing the new developer to optimize architectural and planning solutions.

Key project parameters

• Address: 12 Ūpju Street, Riga
• Land area: 1.9771 ha
• Planned buildings: 4 apartment buildings
• Number of floors: 3 floors + basement
• Number of apartments: 180 (2–4 room apartments; approx. 45% two-room, 45% three-room, less than 10% four-room units)
• Residential area: 10,375 m²
• Above-ground GBA: 12,470 m²
• Parking spaces: 187 (including 96 underground spaces)
• Storage units: 118 storage rooms
• Development: 4 phases

Market potential

The expected selling price of apartments in new developments in this part of Riga is approximately EUR 2,500 – 2,800 per m², which indicates a potential total project sales volume of approximately EUR 27 – 31 million.

Development advantages

• Installed horizontal utilities (electricity, fiber optics, stormwater/sewer infrastructure)
• Approved building project in minimum design stage
• Phased development allowing capital optimization
• Possibility to optimize parking solutions and apartment layouts
• Rapidly developing infrastructure near the Southern Bridge
• Construction of the Riga–Ķekava regional cycle route next to the project
• Estimated project IRR >20%

Infrastructure and mobility

As part of the cycling infrastructure development across Bieķengrāvis, a new pedestrian and bicycle bridge will be constructed parallel to the existing road bridge.

The project also includes a new urban mobility concept in Riga – a “bicycle street” on Ūpju Street. On a bicycle street, cyclists have priority on the roadway while motor vehicles are still allowed access to adjacent properties.

Call, write (SMS, Whatsapp, E-mail) to find out more information.