Pillar Contractor will build apartment rental buildings in Ventspils
On Friday, October 4, Pillar Contractor signed an agreement with “Ventspils nekustamie īpašumi” for the design and construction of new rental housing at 122 Saules Street, Ventspils.
As part of the project, two five-storey apartment buildings with a total of 60 apartments will be built, including two one-room apartments, 18 two-room apartments and 40 three-room apartments. All apartments will be offered with full interior finishing and provided with an elevator in each stairwell. The courtyard will be landscaped with paved parking spaces for each apartment and additional spaces for guests, as well as bicycle parking and underground containers for waste sorting. Partial fencing of the territory will also be created, ensuring privacy and security for residents.
Since the last rental apartment building of this scale in Ventspils was built in 1990, this project marks a significant turning point in the development of Ventspils’ housing stock. The aim of the new project is to provide Ventspils residents with modern, energy-efficient and affordable rental apartments, which will help address the growing demand for high-quality living space solutions.
“Pillar is pleased to have the opportunity to participate in this project, which is not only the construction of a modern and energy-efficient residential building, but also a signal to other municipalities to implement more and more projects of this kind. The goal is to make the rental market in the regions more accessible to people, and we are ready to be part of this mission by sharing best practices in the construction of such energy-efficient buildings,” commented Jānis Lāčaunieks.
The new building is planned to be commissioned by August 31, 2026. The project will be implemented with support from the financial institution “Altum”, using a loan from the European Union Recovery Fund. The planned amount of financing is 5.98 million euros, and after its implementation it will be possible to receive an additional capital rebate of up to 1.48 million euros, which will be granted after the apartments are rented out.
