The new route of the most popular event of the Swedbank Tallinn Marathon – the 10 km Tallinn Autumn Run – will pass through Pelgulinn and Kalamaja districts, demonstrating a renewed urban space for people. The title sponsor of the marathon, Swedbank, the organizers of the Tallinn Marathon and the developer of the Volta Quarter, Endover, celebrated the beginning of cooperation by laying the cornerstone of the third stage of the development of the Volta Quarter.
The Volta Quarter, closed for many years, is gradually being developed and reopened to the public. As a sign of this, this autumn the most popular route of the Swedbank Tallinn Marathon – the 10-kilometer Tallinn Autumn Run, which is being held for the 25th time this year – will take place in the Volta Quarter along the new Uus-Volta and Mootori streets. Yesterday’s cornerstone ceremony marked the appointment of Swedbank as the marathon’s new title sponsor and the opening of the Volta Quarter to the public.
The run as a tour of the renewed urban space
According to the main organizer of the Swedbank Tallinn Marathon, Mati Lilliallik, every year they are looking for new ways to make the route interesting for both runners and spectators: “For amateur athletes, the 10-kilometer Tallinn Autumn Run offers stimulating entertainment and refreshment stops, as well as breathtaking city views.”
“We are trying to surprise long-time running fans with new routes. Fortunately, the rapid development of Põhja-Tallinn gives us more and more opportunities to make routes interesting for runners and introduce new parts of the city. Here we act as a modern guide conducting a real tour for thousands of sports enthusiasts – from the outskirts of the Old Town, through the historical Pelgulinn, the Volta Quarter with its completely new look and further along Kalaranna Street,” said Mati Lilliallik.
The historic Volta Quarter offers something new every year
In the Tallinn real estate market – and for Endover – the Volta Quarter is one of the most important and successful properties. An industrial zone with more than 100 years of history is being developed as a “15-minute city”. The total development volume of the quarter is 142,000 m2, with more than 750 apartments planned here. Preparations have also begun for the construction of one of the largest business campuses in Põhja-Tallinn, where 35,000 m2 of commercial space will appear.
The cornerstone marks the start of construction of three new energy class A Volta Residences apartment buildings, which will be waiting for new occupants at the beginning of 2025. CEO of Endover Robert Laud noted that currently 9 buildings have been completed in the quarter, and 4 more will be ready in the next nine months. In the buildings that have just received the cornerstone at 10 Uus-Volta, 61 1-5-room apartments will be built, and underneath them there will be underground parking protected from bad weather, the purpose of which – as during previous stages of development – is to make the streets of the quarter as car-free as possible. Solar panels will be installed on the roofs of the buildings, and charging stations for electric vehicles along with bicycle parking will be provided.
“When the run route passes through the Volta Quarter next year, you will see a completely different urban environment and completely new streets here. On the one hand, this will be fun for runners, who can be surprised with something new every year. On the other hand, this is a signal to us as a developer that the real estate market is reviving,” Laud explained.
Swedbank became the new title sponsor of the Tallinn Marathon and gave it a new name
Tarmo Ulla, Head of Private Banking at Swedbank, noted that it is important for Estonia’s largest bank to contribute to the promotion of a healthy lifestyle and provide people with more and more opportunities: “Swedbank has long promoted the accessibility of quality financial education through its Institute for Finances (Rahaasjade Teabekeskus) with the goal of improving people’s financial health – and we believe it is equally important to support their physical and mental health. The Swedbank Tallinn Marathon, which over two days brings together tens of thousands of running enthusiasts from Estonia and other countries, is a real example of the success of promoting a healthy lifestyle.” He added that since 2005, Swedbank has been supporting the creation and development of Estonian health trails, and since 2016 – sports projects aimed at youth.
“Health is our main wealth, and we should constantly invest in it. Therefore, we have set ourselves a long-term goal – to provide opportunities for sports for young people and adults, amateurs and serious athletes alike. The Swedbank Tallinn Marathon combines the joy of movement and the beauty of achievement sports,” said Ulla.
Volta Quarter stimulates the entire real estate market in Põhja-Tallinn
Tarmo Ulla, Head of Private Banking at Swedbank, which issues the largest number of home loans in Estonia, and CEO of Endover Robert Laud recognize that the real estate market is becoming more active and urban space is constantly changing. “Interest in home loans has increased compared to last year, and we expect that the second half of 2024 will be even more active in the real estate market. People make informed decisions: when choosing an apartment, they focus, among other things, on its energy efficiency,” Ulla explained.
According to Robert Laud, based on the results of the first half of 2024, it can be said that the Volta Quarter is currently one of the most attractive new developments in Tallinn: “Although there are more transactions in Haabersti, the highest turnover of transactions takes place in Põhja-Tallinn,” - Laud said.
According to real estate development statistics aggregator Citify, out of 570 transactions on the Tallinn market with a total turnover of about 160 million euros, 128 took place in Põhja-Tallinn and had a total turnover of almost 44 million euros. The total turnover of 176 transactions in Haabersti reached approximately 38 million euros, and 85 transactions in the Tallinn city centre had a turnover of almost 29 million euros. Today in Põhja-Tallinn the Volta Quarter is the first choice for buyers – in the first half of 2024, 27 families purchased their housing here. This is almost a third more than in the next most popular development project. The attractiveness of Põhja-Tallinn is also evidenced by the price levels, which remain here at the level of 5,100 euros/m2, while in the city centre it is 4,793 euros/m2.
The new Volta Residences stage will get three buildings with distinctive industrial architecture that is in harmony with the historical buildings of the quarter. 43-131 m2 apartments have high ceilings, floor-to-ceiling windows, as well as balconies and terraces. To date, the largest apartments in all three houses have already been sold. “There is a demand for larger apartments in the market and we are seeing that people are willing to pay more than average for a good location, nice layout and quality solutions,” added Robert Laud.
First Volta Residentsid apartments on 10 Uus -Volta will be built in early 2025. The architectural solution was developed by Apex Arhitektuuribüroo, general construction contractor – Metropoli Ehitus, and the developer is Endover.
The Swedbank Tallinn Marathon and the Tallinn Autumn Run will take place on 6-8 September 2024. The Tallinn Marathon program, which attracts thousands of running enthusiasts, includes the classic marathon (42.2 km), the half marathon (21.1 km), the 10 km Autumn Run, the Nike Youth Run (5 km), the Limpa Children’s Run (300 m) and – for the first time – a marathon relay of 42.2 km. The marathon and half marathon that carry the World Athletics Elite label of International Association of Athletics Federations for organized competition, making the Tallinn Marathon one of the fifty most prestigious marathon runs in the world.
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