Real estate, media and pharmaceuticals magnate Margus Linnamäe had proposed both residential and business building projects between the Järvevana Road and Lake Ülemiste south of the city centre of Tallinn and submitted detailed plans for the scheme, but these were rejected by city authorities. According to Äripäev this was because the planned construction was not in the public interest, and did not meet urban planning prerequisites.

Holding company Axis UPI OÜ with which Mr. Linnamäe, 54, is registered as a named person, holds a 5.6 hectare plot at Järvevana 7a, close to the junction with Peterburi Road about halfway along Lake Ülemiste's northwestern shore, and had planned to build 48 three' to eight-storey buildings there, both urban-type residential buildings and commercial buildings, giving a total of 315 apartments and up to 668 parking spaces, it is reported.

The plot is currently mostly forested. Since Lake Ülemiste is, not the source of Tallinn's drinking water as is often claimed, but hosts the drinking water treatment plant for water pumped via the lake from a much larger catchment area by water utility Tallinna Vesi, the lake shoreline is fenced off to a distance of between 50 and 100 metres from the lake itself, and is off limits to members of the public.

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