Tallinn Seeks EU Funds and Investors for €150–200 Million Linnahall Project

Tallinn Mayor Peeter Raudsepp (Isamaa) has stated that the city is looking to secure European Union structural fund financing for the renovation of Linnahall while simultaneously seeking investors with proven interest. Decisions about the building's future must be made in the autumn.

Although Raudsepp suggested in the spring that the city should discuss demolishing Linnahall and building a true landmark in its place, he now emphasizes that demolition has not been decided. He explained that if no use or investor can be found, demolition might become inevitable in the future, but it is not a foregone conclusion.

The city's Strategy Centre has been tasked with preparing a development concept for Linnahall and identifying operators who can demonstrate genuine interest in running the venue. The centre must also prepare a financing plan and provide a detailed overview of renovation cost options. The work must be completed by autumn, after which decisions will be made.

The financing plan focuses on using EU structural fund resources from 2028 to 2034 to create the conditions needed to secure funding for Linnahall. Raudsepp noted that given the scale of investment, the City of Tallinn cannot handle it alone—even the lowest estimate corresponds to roughly one year of Tallinn's investment budget. The amount is between €150 and €200 million.

"Proven interest" means concrete commitment that can be formalized in a protocol of intent, without which the process cannot proceed. The city government will make a final decision on Linnahall only after the entire process is completed and due diligence obligations are fulfilled.

Raudsepp stressed that the goal is not to renovate Linnahall at any cost—with a blank cheque, regardless of expenses or low returns. Tallinn needs both concert halls and a conference centre, and Linnahall could serve those needs, but it is not an end in itself.