Kojamo plc and Lehto Group Plc have signed a cooperation agreement on the construction of 392 Lumo rental apartments in Vartiokylä in Helsinki, and Nihtisilta, Niittykumpu and Nöykkiönlaakso in Espoo. The agreement involves a total of 11 properties, three of which are apartment blocks made of wood.
Two apartment blocks with more than one stairwell are to be constructed in Nihtisilta, Espoo, and three apartment blocks with a single stairwell will be constructed in Vartiokylä, Helsinki. In addition, Kojamo has commissioned the construction of three wooden apartment blocks in Nöykkiönlaakso, Espoo. The design of these blocks is based on Lehto’s new ecological Deco wooden apartment block concept that involves modular elements.
“We want to provide our residents with the best possible living experience and to develop better urban housing in a sustainable manner. All of the properties included in the agreement are in excellent locations with good services, outdoor exercise opportunities and accessibility, and they support our efforts towards profitable growth,” says Kojamo’s Chief Investment Officer Ville Raitio.
The new apartments will include singles as well as two-room, three-room and four-room apartments, which will be completed in 2021–2023. The completion of individual projects specified in the agreement is subject to fulfilling the customary terms and conditions.
Kojamo’s strategy is to invest heavily in increasing the housing supply in Finland’s growth centres, where the demand for rental apartments is on the rise due to urbanisation and the increased popularity of rental housing.