Industry to concede site intended for Waterfront Quarter (LT)

A new quarter called Memelio Miestas will spring up in Klaipeda (Lithuania) near the mouth of the river Dane and the Curonian Lagoon at the site of the Laivite ship repair company. Residential housing, offices, retail space, recreation and leisure centres, and a hotel are planned for the 6.7 ha site. The project will be realized in stages and is expected to end in 2012 with a foreseen investment of €232 mln.

Aerial view of the Waterfront Quarter.

The Memelio Miestas company, which initiated and is realising this project, has acquired the Laivite site (in the territory of the Klaipeda state sea port) and, with the help of the international real estate consultancy company, Colliers International, has prepared the conception for the development of this site and was appointed exclusive sales agent. The project is an example of industrial site conversion where a multifunction project that will open a path to the water for the city's residents and guests is planned on a former industrial site's in-place infrastructure. The object's location is unique as it is on the shore of the Curonian Lagoon and very close to the river Dane and its mouth.

According to Klaipeda Mayor Rimantas Taraðkevièius, the Memelio Miestas project decisively breaks the worthless, outdated tradition of erecting only industries on the picturesque waterfront. This project is already racing ahead and with the construction of a cruise ship terminal beside it and the restoration of the historical buildings at the mouth of the River Dane, the entire former industrial area is becoming ever more attractive for people, tourists, and investors.

The opinions of the inhabitants, planners, and municipality completely concur in respect to Memelio Miestas: "we support the conversion of the waterfront industrial areas into attractive residential and commercial areas. A similar conversion has occurred in more than one European city and Klaipeda has always espoused and followed modern European traditions that have an aim of creating a city environment attractive to people".

'The project in every way reflects the urbanisation process, which is occurring at this time in Europe, i.e. the objective to bring city residential areas closer to the water. I think that realising the Memelio Miestas project and at the same time further developing the projects for Klaipeda's historical castle site and the small craft and yacht harbour will substantially alter the centre and old town of Lithuania's marine city. This tendency in the city's reconstruction is unavoidable,' stated Director Kastytis Macijauskas of the Urban Development Department of the Klaipeda City Municipal Administration.

The development is slated for 48,000 m² of residential, 10,000 m² of offices, 11,000 m² of hotels, 11,500 m² of retail, with an additional 12,000 m² of restaurants, clubs, and conference centers.

Source: Colliers International

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