City of Tallinn offers a slum in Kopli to Scandinavian, Russian investors01.10.2013, 11:19
The Tallinn City Government has given up hope to find a developer in Estonia who could turn the rundown area known as Kopli Liinid into a new residential area and is going on a roadshow in Scandinavia and Russia, writes ERR.
In the first half of October, the city will organize a roadshow in Helsinki, Stockholm, St. Petersburg and Moscow, hoping to find a developer for a notorious slum area that has 17 hectares of land including 6 ha for residential development.
According to the detailed plan, developers will be able to build residential houses with a total of 527 apartments plus 38 one-family houses on the area.
The aim is to find a developer to construct a new residential area and update infrastructure.
The area, running parallel to tram tracks on the Kopli peninsula, is mostly known for its abandoned buildings, occasionally inhabited by the homeless.
In winter, many of the squats catch fire, as the down-and-out people of Tallinn try to warm themselves, often with deadly consequences.
According to Deputy Mayor Ega Võrk, while at first the city tried to hand out building leases, it now plans to sell the properties.
The starting price of the area is EUR 1.5m.