Acquisition of an under-utilised site with parking in the western extension of Helsinki. Development of apartments for rent and co-working with LEED Gold accreditation. The residents have access to a range of social and amenity areas and are part of a vibrant and stimulating community.
The existing build permit was amended for a value enhanced scheme and the basement reduced by 70%, including removal of expensive to build car parking.
The site is located in metropolitan Helsinki in a major development area with less than 10 minutes travel time to Helsinki Central Station. The scheme will target Finnish, Nordic and international young professionals, students and single-family households.
The property was acquired in October 2019 in a joint venture with a global institutional investor. The joint venture targeted in excess of 2,000 apartments with strong focus on ESG.