Hagberg Invests €25 Million in Liepāja Housing Projects

Real estate development, construction, and management company Hagberg will start construction on two residential building projects in Liepāja, on Debess Street, this summer. The total investment for the projects will reach €25 million, encompassing the construction of four energy-efficient residential buildings with 200 modern dwellings. The projects will offer apartments for both purchase and rent, including affordable rental options.

Debess Street Development: A Two-Pronged Approach

The development of Debess Street will feature two distinct housing projects designed to create a unified and modern living environment for Liepāja residents. Apartments at Debess Street 1 will be available for both purchase and rent, while Debess Street 2 and 3 will focus on affordable rental housing supported by ALTUM.

Debess Street 1: Apartments for Sale and Rent

A six-story building with a basement will be constructed at Debess Street 1, offering 58 apartments. These apartments will range in size from 37 to 84 square meters and will include two to four rooms, each with a balcony or terrace. The basement will house individual storage rooms and communal bicycle racks. The building’s architecture and décor will emphasize high-quality materials and expressive solutions, creating a unique character for the development.

All apartments will be fully finished, with rental units additionally equipped with built-in kitchens and fully equipped bathrooms. Pre-booking for purchase will begin soon, with rental options becoming available after the building is completed.

Debess Street 2 & 3: Affordable Rental Housing with ALTUM Support

Parallel to the Debess Street 1 project, three residential buildings with 140 affordable rental apartments will be built. These apartments will range in size from 41 to 71 square meters and will be fully finished, including built-in kitchens and equipped bathrooms. This project is being implemented with funding from ALTUM, utilizing resources from the European Union Recovery Fund.

The Liepāja municipality will manage the allocation of apartments, establishing a queue and determining priority groups according to Cabinet of Ministers regulations.

Infrastructure and Environment

The location near the sea and pine forest is a key advantage, combining city infrastructure with natural surroundings. The development will include parking with electric vehicle charging stations, bicycle racks, and well-equipped outdoor recreation areas. Green spaces will feature recreation areas, pedestrian paths, benches, lighting, and children’s playgrounds, creating a safe and high-quality living environment.

Funding Details

The total project cost is €16.7 million, with €12.4 million covered by an ALTUM loan from the European Union Recovery Fund, €2.75 million from an ALTUM loan, and over €1.5 million in co-financing from Hagberg. The funding was granted through the ALTUM program “Loans for the construction of low-rent housing with a capital discount.”

Both projects are planned for completion in the summer of 2027.