Construction, repair and household goods retail chain "Old people"Baltic Shopping Centers", a commercial real estate (RT) company indirectly owned by founder Augustinas Rakauskas, is planning the conversion of the territory of the Banginis shopping center it owns in Vilnius, in the Northern Town.
Baltic Shopping Centers presented the project vision to the Vilnius Regional Architecture Council (RAT) in February - according to which Banginis could be moved to another location in the territory, and a seven-story building would be erected in its place. apartment buildings with approximately 1,4 thousand new apartments, with commercial or educational premises on the first floors.
Ieva Goštautaitė-Gedutė, director of Baltic RED, a real estate company associated with Baltic Shopping Centers, says that the project presented to the architects is an initial feasibility study.
"It is not realistic to name any specific plans or investments at this stage," she told BNS Plius.
Lukas Rekevičius, the head of the company "Aketuri architektai", which prepared the architectural design of the territory, says that the apartment buildings would be built further away from the busy P. Lukšio Street, and all the apartments could be for rent.
"A screen building is planned from the bus parking area and stop, which would protect residential buildings from noise (...) For the sake of a better quality of life, smaller apartment buildings with smaller yards are being built," said L. Rekevičius at a meeting of the Vilnius RAT.
According to him, the first floors of all apartment buildings could be adapted for commercial activities: "It would be possible to integrate educational institutions. The plan remains flexible."
According to L. Rekevičius, the currently operating "Banginis" would be moved to the northeastern corner of the territory, and two new streets are planned here, which would divide the large plot of land into four parts.
"This vision should be used to correct the detailed plan that is being prepared. After receiving the conclusions, the developers will have to decide whether the project should continue," said the head of "Aketuri architektai".
After evaluating the project, Vilnius RAT said it missed more public spaces. It also said that both urban and transport analysis were lacking, so the council recommended the company hold an urban vision competition and choose from several proposals.
"Public life is proposed on the streets, but a larger public space is missing. Although the council members approve of the type of development itself, a comment on the surrounding type of development is missing - no arguments are provided as to why a block-based development is being designed," the council writes in the protocol decision.
A. Rakauskas is planning a new housing and business district Beautiful
Baltic Shopping Centers shareholder, the real estate company Litvalda, managed by A. Rakauskas, is also planning to develop a project for a new office and residential quarter near Kaunas Castle, next to the Neris River.
The Kaunas company SSPC-Jonava, controlled by Litvalda, has announced a competition for the architectural design of a territory with a total area of 18,5 thousand square meters, the Lithuanian Union of Architects announces.
Currently, Kesko Senukai is renting two-story premises and other structures on the company's site.
According to the company, a new block of apartments with commercial premises and office buildings is planned to be built at Jonavos Street 62.
"To provide underground, basement and above-ground parking lots, green areas, children's playgrounds. To provide access roads, pedestrian paths, and the most optimal physical connection between Žaliakalnis and the Neris River bank," the competition conditions state.
"Private and public spaces and zones should be created on the plot. Residents must have their own private yard (space), and outside there should be public pedestrian and bicycle paths, walkways, and common use facilities," said SSPC-Jonava.
The competition is organized by the Kaunas branch of the Lithuanian Union of Architects at the request of the company. Its results will be announced on July 31. The authors of the seven best projects from the first stage will share 28 thousand euros, and in the second stage, the three selected companies will share 24 thousand euros.
In 2024, Litvalda opened the Harmony Birštonas hotel in Birštonas.
A couple of years ago, the group's company Baltic RED began construction of a 50 million euro hotel, office, restaurant, conference, exhibition and apartment complex on the former territory of the Merkurijus shopping center on Kaunas' Laisvės Avenue. It is expected to open in 2027.
In addition, next to the managed shopping center, the Mega Group is developing a shopping district in stages, where a Decathlon store has already been located,Lidl", "McDonald's". In addition to "Banginis" in Vilnius, it operates the following center Klaipėda, other commercial real estate.
A. Rakauskas owns 94,95 percent of Litvalda's shares, which in turn owns 100 percent of Baltic Shopping Center's shares, according to data from the Center of Registers.
Author Algimantė Ambrulaitytė
Editor Roma Pakėnienė
[email protected], Business News Section
