Arco Vara development, which started in a supply crisis, completed a quarter ahead of schedule
Arco Tarc, the construction general contracting subsidiary of residential real estate developer Arco Vara, completed the Rannakalda development project in the Kodulahe quarter ahead of schedule, despite volatile market conditions.
According to Miko Niinemäe, the head of Arco Vara, Arco Vara’s first property was the demanding Rannakalda development, which the team created two years ago managed to handle excellently despite the volatile market conditions. “The new team was tasked with creating more than 100 homes in a logistically excellent but structurally challenging location, as building on seashore soil is somewhat more challenging,” Niinemäe says.
Arco Tarc started the construction of the Rannakalda development at Lammi 8 in the Kodulahe quarter in February 2022, and the phase initially planned for the first quarter of this year was completed ahead of schedule at the end of 2023. “Completing a project ahead of schedule is not a common occurrence in the construction industry, so despite the changeable conditions, the construction company really managed the project very well,” said the head of Arco Vara.
According to Arco Tarc’s Lauri Männiste, in addition to the construction characteristics, the project also faced economic factors. “When we were planning the construction of Rannakalda, times were very volatile. The availability of materials had plummeted and prices were rising rapidly, and in the very first months of the project, war broke out in Ukraine. We had to take the risks into account, and some of these risks materialised,” says Mr. Kallasan. Männiste’s construction process.
He pointed out that contracts and transparent agreements with suppliers played a role in keeping costs under control. However, Männiste believes that the biggest success factor of the project was the joint efforts and synergy of the team members. “The success of the construction project was primarily due to the excellent team, including the open cooperation between the construction and development teams.”
Electric car charging for all
The new development will comprise a total of 108 homes of up to five apartments, five commercial spaces and an underground car park. More than half of the apartments were already sold and handed over at the end of last year. All the buildings in Rannakalda are energy class A, the residential buildings are equipped with solar panels, the apartments have underfloor heating and a heat recovery ventilation system. “While solar panels are already commonplace today, the availability of an electric car charging point in each parking space by Enefit Volt is a pilot project for the first time on the apartment building market,” said Männiste, explaining the unique nature of the new development.
“This year, our construction company is ready to start two new Arco Vara development projects – the Kodulahe quarter will be expanded to the Soodi 6 property and the Arcojärve residential quarter on the shores of Lake Harku will be launched,” Männiste said.
Cleaning up the beach and green areas
Arco Vara’s goal is to develop integrated living environments, and this has been a priority in the Rannakalda development, in which the company invested a total of EUR 25 million. “For example, on our own initiative, we have made significant additional investments to improve the beach and green areas,” Niinemäe said.
According to Niinemäe, Rannakalda’s trump card is undoubtedly its exceptional location close to the city centre and at the same time close to the sea. Both the developer and the head of the construction company highly appreciate the private surroundings of the new development, which are otherwise not so easy to find in Tallinn. “What makes Rannakalda unique for the future is the fact that it is simply not possible to build anything more on three sides, so the nice privacy will be preserved in any case,” Niinemäe concludes.
