Construction, Culture, Estonia, Real Estate

The church, which is currently completing one of the most exclusive real state developments in Estonia at the Kentmanni Street in the centre of the city now, submitted an application to the Tallinn city government in May to initiate the detailed development plans of a plot in central Tallinn, next to the Olümpia hotel, which prescribes erecting the tallest building of the centre of the city.

Lutheran Church asset management company OÜ Kiriku Varahaldus board chairman Mati Maanas said that development activities are based on the principles the church adopted ten years ago. It was then that it was decided that the lucrative real estate returned to the church with the ownership reform will not be sold for a quick profit anymore and the church will try to make them profit-earning for a longer period of time.

"We have made sketches and the city has reviewed them, evaluated them positively. There is reason to believe that the plan will be launched and will be successful for the city of Tallinn, "said Maanas. He stressed, however, that all of the planning stages are still ahead, and a lot can change. Even with smooth progress, building could start in only four or five years. The church plans to pursue the project together with construction company Fund Ehitus which owns the plot next to the church's and they plan to join real estate and forces.

The Church attempted to erect a skyscraper in the area already in 2005 and 2008, but then collided with the Cultural Heritage Department's opposition as the church and the owners of neighbouring plots wanted to merge 3,000 square meters of land and demolish a historic wooden house. With the current plan, the house would remain intact and the skyscraper with 4 underground parking floors would cover an area by a half smaller.