On Friday, 20 February 2026, a symbolic and significant event took place in the CENTRUS – a time capsule containing a message for future generations was placed into the structure of one of the buildings. This moment marks an important milestone in the development of one of the most significant new projects in central Riga. In the quarter bordered by Blaumaņa, Dzirnavu, Tērbatas and K. Barona streets, five residential buildings are currently under construction simultaneously.
The time capsule ceremony was attended by representatives of the developer Centrus Real Land, the construction company Monum, as well as the construction supervision company BLV Advisory Group, and the architectural bureau Layout17.
“The time capsule symbolises our desire to pass on to future generations a message about responsible urban development, respect for the history of the place, and the belief that the centre of Riga will remain a space full of opportunities, open and inspiring,” says Bruno Bergmanis, Member of the Board of the project developer “Centrus Real Land”.
The message placed inside the time capsule reflects the historical significance of the site, the traditions of life in Riga’s city centre, and today’s understanding of a sustainable, high-quality and people-friendly urban environment. CENTRUS is being developed in a location that has been an epicentre of active city life for more than a century and was once known as “Little Paris”, thanks to its cultural, entrepreneurial and bohemian spirit.
“The placement of the time capsule into the structure is a symbolic moment in the project’s development,” notes Evita Domello, Member of the Board of the construction company “MONUM”. “Despite construction taking place in dense urban conditions and this winter’s unusually prolonged weather conditions, we are pleased that the works are being organised in line with the planned schedule.”
In the final phase of CENTRUS, five new buildings are being constructed simultaneously – four seven-storey buildings and one five-storey building. The development will include 142 apartments with floor areas ranging from 24 to 210 m², as well as seven commercial premises located on the ground floors. All apartments will be delivered with full interior finishes using high-quality materials and will meet A+ energy efficiency standards. Total investment in the project’s second phase will reach EUR 30 million, of which EUR 25 million in financing is jointly provided by BluOr Bank and Signet Bank. Completion of the entire quarter is planned by the end of 2027.
“Designing the five new CENTRUS buildings has been a positive challenge for us as architects. First of all, this is the centre of Riga, where we aim to respect and complement the surrounding historic quarters, their dynamics and architecture. Secondly, we want to create a cohesive quarter, while ensuring that each building has its own distinct character and layout, is comfortable for residents, and engaging for passers-by. We hope that in the near future residents will feel comfortable and safe here and will enjoy the advantages of living in the centre of Riga,” says project architect Linda Stiglica (Layout17).
The CENTRUS quarter is a special project for Riga due to its scale and implementation conditions. Construction is taking place in the very heart of the city, in an area with intensive traffic and dense development, which requires heightened attention not only to construction quality but also to overall work culture. BLV Advisory Group ensures quality control through systematic risk management, process coordination and transparency. In projects of this scale, it is particularly important to assess and control the impact of construction on the surrounding environment — both the safety of neighbouring buildings and the overall comfort of city residents. This includes a responsible approach to noise, logistics and safety issues, as well as careful integration of the construction process into the urban environment,” says Sergejs Frolovs, Head of the construction supervision company “BLV Advisory Group”.
In the first phase of CENTRUS, two seven-storey residential buildings with a total of 82 apartments have already been completed, along with the creation of a green, publicly accessible promenade connecting Blaumaņa and Dzirnavu streets. All apartments in the first phase have been sold, and all commercial premises have been leased. The quarter also features a two-level underground car park with 417 parking spaces.
Apartment sales and reservations have already begun. Buyers can choose their preferred home in one of the five buildings, plan apartment combinations in advance to create a larger living space tailored to individual needs, and select one of the available interior finish options.
