Metro Capital Management

Metro Capital Renovates Historical Building by Architect Karl Burman in Kadriorg

02.02.2011

OÜ Burmani Maja, a subsidiary of Metro Capital Management (MCM) has acquired the property designed by architect Karl Burman, situated in Kadriorg, on the corner of Kreutzwaldi Street and Raua Street. The company intends to renovate the building by the autumn of this year.

In the course of renovating the four-storey building the apartment layouts will not be altered, and therefore the area of the 10 refurbished apartments will be between 120 to 180 square metres. The residential building located at F.R. Kreutzwaldi Street 7 was built in 1914 on the basis of the design of Karl Burman (1882-1965), one of Estonia’s first professional architects and founders of the national school of architecture.

According to the member of the management board of MCM, Mr. Ain Kivisaar, the building was first intended for the wealthy middle class of the beginning of the twentieth century, and the developer aims to restore the original features reflecting this in their authentic form. “We shall renovate the façade and restore the stairwell in its former glory. At the same time we shall give the apartment owners free hand in deciding on the finishing of their new apartments. We shall offer for sale altogether ten apartments, most of which are very well-lighted, with high doorways and ceilings,” says Kivisaar. According to him the renovation work will start in the spring of this year, and the sale of apartments will take place at the same time. The work will be completed in the autumn of 2011. The purchase of the project was financed by LHV Bank.

Kivisaar says that MCM has already sold over 30 apartments in the new developments, intended to be completed in the summer of 2011. “Both the Väike-Kalamaja project, as well as the Kreutzwaldi 12 project have been more successful than expected and therefore we plan to acquire more development projects in the central part of the city,” Kivisaar admits.