On November 27, a ceremonial event was held at the construction site of the upcoming rental property at 8 Ceriņu Street, Bauska. The time capsule, carrying a message for future generations, was placed in the building’s foundation by the Chairman of Bauska Municipality Council, Aivars Okmanis, Chairman of the Board of SIA “KIK Real Estate Bauska,” Kaspars Kazāks, Head of the Corporate Transactions Department at AS “Attīstības finanšu institūts Altum,” Māris Apsītis, and Board Member of SIA “MONUM,” Evita Domello.

Addressing the attendees, Kaspars Kazāks, Chairman of the Board of “KIK Real Estate Bauska,” said: “In Bauska, after a hiatus of more than 15 years, a new multi-apartment building is being constructed. This building will feature affordable rental prices, low energy consumption, and excellent sound insulation. This is a significant milestone for Bauska Municipality. In regional cities, projects like this are akin to a Christmas miracle, realized through collaboration with the European Union, Altum, and Bauska Municipality. Bauska Municipality was one of the first in Latvia to develop regulations enabling such projects. They supported and encouraged us. Together, we made it happen.”

Evita Domello, Board Member of SIA “MONUM,” stated: “We are proud and committed to executing this project. This building will provide new living opportunities for families and professionals in Bauska. May this moment of placing the time capsule serve as a strong foundation for a successful journey towards creating a sustainable and family-friendly environment in Bauska. Let this project become another cornerstone of growth for Bauska Municipality.”

Jānis Āva, Project Supervisor from Colliers Baltics, added: “Congratulations to everyone involved in this significant step – embedding the time capsule. The work has only just begun, but I believe that by combining the energy of the developer KIK Real Estate Bauska, the expertise of MONUM and Colliers Baltics, and the support of Altum and Bauska Municipality, we will succeed in building a high-quality rental home that will satisfy both construction participants and future tenants.”

Māris Apsītis, Head of the Corporate Transactions Department at AS “Attīstības finanšu institūts Altum,” revealed that the building on Ceriņu Street will house 60 apartments: “Bauska is creating an opportunity for local residents to live in a modern and beautiful environment. This project is part of the affordable rental housing program, which aims to construct 467 apartments across Latvia. The program focuses on regional development, and we are delighted that Bauska is one of these regions, providing an opportunity to attract young families and skilled professionals, contributing to the municipality’s growth.”

Chairman of Bauska Municipality Council, Aivars Okmanis, commented: “Today, it feels like something new and good is beginning in Bauska Municipality. This project is the result of a collective effort involving the local government, the ministry, Altum, and the European Union. The collaboration has yielded excellent results – 60 new homes in Bauska. Cooperation is the key to success, and it is incredibly rewarding to see Bauska becoming increasingly attractive to businesses, professionals, and young families.”

Signe Groza, a representative of the European Commission, noted that the European Union has invested over €2 billion in similar projects: “We are pleased that part of this funding will remain in Bauska Municipality. These apartments will create opportunities to attract new workforce and young families. Thank you to everyone contributing to this project.”

The new rental building will be nearly zero-energy and will feature five stories with 60 apartments, covering a total living area of 3,300 square meters. The building will include one-, two-, three-, and four-room apartments. The project also includes 72 parking spaces.