Construction of the first building of 'Tērbatas dārzs' start in March

“Estera Development”, the developer of the Sports Palace area, announces that in March this year the construction of the first residential building of the "Tērbatas dārzs" quarter will start at the intersection of Tērbatas and Lielgabalu streets. The construction works will be carried out by the experienced general contractor SIA "Selva Būve"

SIA “Selva Būve” is one of the leading Latvian general contractors with more than 20 years of experience in the construction of various buildings. Work on the Tērbatas dārzs project is scheduled for completion in Q4 2026. Currently, all work related to the project is progressing according to the original deadlines.

Last December, the architectural design competition for the other five residential buildings in the "Tērbatas dārzs" project was completed, and design work has already started for the next buildings. The aim of the design competition was to obtain high-quality architectural solutions for the facades of the residential and mixed-use buildings in the new "Tērbatas dārzs" quarter. The competition was won by two Latvian architectural practices, SIA “Mark Arhitekti” and SIA “PBR”.

"Tērbatas dārzs" is a modern city quarter that “Estera Development” is developing on the territory of the former Sports Palace hockey hall, between Tērbatas and Krišjāņa Barona streets. With an investment of more than EUR 120 million, 800 A+ energy-efficient apartments and spacious commercial areas will be developed in six seven-story buildings, creating an attractive environment for residents and businesses. Construction of the first building will start in March, while the other five buildings will be developed in phases from 2026 to 2032.

The first building, “Tērbatas dārzs”, which will be completed at the end of 2026, will offer apartments of various sizes, from studios to penthouses with roof terraces. Prices will range from 3400 to 4500 EUR/m², and the cheapest apartment can be bought for less than 85 thousand euros. Reservations for the apartments have been open since mid-October last year and anyone can register their interest in the layouts and prices on the project's website.    

The new project will continue the green tradition of the "Sports Palace Gardens", preserving some of the existing gardens and creating a harmonious balance between urban dynamism and sustainable living. The quarter will not only respect the history of the area but also create a new community in the heart of Riga.    

More information: https://terbatas.estera.lv/

About “Estera Development”

“Estera Development” is a Latvian real estate developer with Estonian capital. "Estera Development” has been operating in the Riga market since 2016 and has built 500 apartments during this period. So far, the company has completed new projects in Latvia such as the just completed premium project "Tekstiliana" in Torņakalns, as well as "Tuvidi" in Balozi and "Liepziedi" in Mīlgrāvis. In recent years, the company has accumulated a stock of land properties in Riga and its surroundings, which will allow for the future construction of more than 3200 new apartments.