New renderings and details have been revealed of Studio Libeskind’s competition-winning mixed-use tower development located in the downtown business district of Vilnius, Lithuania as the project has secured funding. Located at the intersection of the White Bridge, the Neris River and Old Town, the 20,000 square meter (215,000 square foot) complex will be home to a class-A business center and the region’s first Radisson RED-branded luxury hotel, along will an array of restaurants, shops and public amenities.
Financing for the project will be provided by Swedbank through an agreement made with JSC Investmira, a subsidiary fund of investment management company Lords LB Asset Management.
“We are happy to contribute to this project, which is so unique in terms of its architecture and location in the city. Lords LB Asset Management has an excellent track record of launching and managing new properties, therefore we trust their vision and work. They give a great deal of thought to public spaces, which is critical, given the general layout of the city and comfort of its residents," said Martynas Trimonis, head of real estate clients division at Swedbank Lithuania.
"This part of the city has been changing beyond recognition. It attracts new businesses, which will work in the newly built business centers, as well as tourists, who will be able to try out a Radisson RED hotel, which boasts a unique concept and is the first Radisson RED in this region. The management contract, signed with Carlson Rezidor Hotel Group, will further increase the sustainability of the project.”
Construction of the project was approved by the Vilnius City Council last month. The project is currently estimated to complete by 2020.
See previous coverage of the building here:
Studio Libeskind has won an international competition for the design of a mixed-use tower and complex in the heart of Vilnius, Lithuania. The 20,000 square meter building will feature offices, a luxury hotel, restaurants and public amenities and will be located at the intersection of the White Bridge, the Neris River and Old Town.
News via LORDS LB