In 1910, the Riga Mortgage Society applied for this plot of land at 3 Kr.Valdemāra Street and wanted to build a bank and a residential building in one complex. A competition was announced for the best design for the Riga Mortgage Society building. However, the final design of the building was entrusted to August Witte, who took Eižens Laube’s design as a basis. On 8 February 1914, the new building was consecrated. The building was designed and constructed for the needs of the bank. The spacious foyer was the bank’s operating room. On the upper floors there were six- and ten-room apartments for public officials. Local and foreign firms participated in the construction of the building. The external staircase was made of granite from Finland, the walls of the foyer were finished with marble from Hamburg, the roof was covered with English slate and the blinds were bought in Munich.

Advance reservation is required. Access to the building is from the street for visitors with reduced mobility; from the courtyard for staff with reduced mobility. Electronic stair lift, access on request to required rooms. For staff with reduced mobility, there is a lift with access to all floors. There are adapted toilet facilities. To date, no one has requested information in sign language, but it would be provided on request (according to a staff member).