Baltic International Bank launches an ambitious refurbishment and regeneration of the Old Riga quarter

News - September 18, 2018

Baltic International Bank has embarked on reconstructing and refurbishing of the Old Riga quarter situated between Kalēju Street and Vecpilsētas Square. Baltic International Bank has allocated nearly EUR 12 million towards the project. The construction contracts have been signed by Bank, architectural firm “Ivara Šļivkas birojs” and contractor “Ramej Construction”. The reconstruction of five intra-quarter buildings is aimed at rejuvenating and regenerating this neglected quarter of the Old Riga. The purpose is to transform it into a public and business space and to establish an architectural ensemble presented as a homogenous and an indivisible whole and built according to the highest modern standards while maximally respecting cultural and historic heritage and construction traditions. 

We’re launching a long-term cultural historic and business project of great importance to us as a bank. The city will regain a renovated part of the Old Riga, we’ll create an interesting environment both for our citizens and tourists, we’ll offer the local businesspeople premises for business development, and Bank will enjoy new office premises. Previously, we have reconstructed and restored historic buildings in the Old Riga (Grēcinieku and Kalēju streets). This is the vivid testimony to the fact that we maintain the optimal balance to be able to preserve historic values while succeeding in business.Chairperson of Baltic International Bank Supervisory Board Valeri Belokon

 

Vecrīgas kvartāla atjaunošana Baltic International Bank
Maxim Rozin owner of “Ramej Construction”, Viktor Bolbat Chairperson of the Management Board of Baltic International Bank, Valeri Belokon Chairperson of the Supervisory Board of Baltic International Bank, Architect Ivars Šļivka, Irina Armanova Project Manager for Real Estate Development of Baltic International Bank

 Vecrīgas kvartāla atjaunošana Baltic International Bank
Architect Ivars Šļivka, Viktor Bolbat Chairperson of the Management Board of Baltic International Bank, Valeri Belokon Chairperson of the Supervisory Board of Baltic International Bank, Maxim Rozin owner of “Ramej Construction”

 

The quarter is located on the territory of the great architectural monument of national cultural importance “Historic Centre of the City of Riga”, a UNESCO World Heritage Site “Historic Centre of Riga” and an archaeological monument of national cultural importance “Archaeological Complex of the Old Riga”. Along the quarter, nearby Kalēju Street, the remains of the ancient city wall from ~1200 year can be seen and will be made accessible to the general public. Taking into account the location of the objects under construction, the project, which is challenging enough, will take 5 years to complete.

 

The revitalized quarter will comprise two main functional zones. Covered shopping arcades, known as passages or galleries, will be located on the lower 3 floors. The Money Museum will be located on the first floor. Bank’s office premises will be located on the upper floors. The quarter will boast of a high-end restaurant and the atrium (a skylight covered space) which will be used for small exhibitions and concerts.

The quarter project has been developed by the architects of the firm „Ivara Šļivkas birojs”. An architect Juris Šūpols has been appointed the construction project manager. The firm “Ramej Construction” will undertake the construction works.

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