Press release 15 April 2021 at 11:00 am
SATO, one of Finland’s largest rental housing providers, is developing non-subsidised rental homes in Kotkatie street in the Espoo district of Karakallio. The complementary construction project will be implemented in co-operation with Y-Foundation-Group and Jatke Uusimaa Oy. Construction begins in April of the current year and the homes will be move-in ready in September 2023.
On 14 April 2021, SATO signed a construction contract with builders Jatke Uusimaa Oy on the property to rise at the address Kotkatie 6 in the Espoo district of Karakallio. The property will consist of 100 new rental homes on a lot owned by the housing company. On the same block, there are already two apartment buildings dating to 1965 and having a total of 121 SATO rental homes.
“The project will be implemented as complementary construction on the current parking lot of SATO’s existing property. The amendment to the local detailed plan was prepared in good cooperation with the City of Espoo planning department”, says Arto Aalto, Vice President, Investments at SATO.
The project also includes the construction of two new parking facilities that will provide parking for both the existing buildings and the new residential building. The parking facilities are expected to be finalized by April 2022.
In the plan amendment process, a second residential building was also designated for the same lot to provide long-term interest-subsidised rental homes. These will be built by the company Koy M2-Kodit. M2-Kodit building will be located in Kotkakuja 1 and is set to be completed by the end of 2022.
M2-Kodit is a company owned by the Y-Foundation-group, a non-profit social housing provider. The residents of SATO and M2-Kodit will have common parking facilities and yard areas.
“M2-Kodit is happy to participate in SATO’s complementary construction project in Karakallio. As stated in our strategy, we aim to build rental apartments in urban growth centers such as Espoo”, says Pekka Kampman, Director of Construction, Y-Foundation-Group.
”This remarkable complementary building project is really interesting for Jatke, particularly because of its sustainable energy solutions. It is great to cooperate with Sato and Y-Foundation Group. For us, it is important to build homes where people feel good and comfortable to live in”, says Janne Mönkkönen, CEO of Jatke Uusimaa.
Sustainable building solutions
“In keeping with SATO’s responsibility programme, all modernisation and new build projects involve determination of whether energy for the buildings can be sourced from the ground. In this project, SATO chose to go with geothermal heat, which makes use of energy stored in the ground. Geothermal heat reduces carbon dioxide emissions and also has an additional advantage in that it may be used for cooling as well. A solar power system producing renewable energy will also be implemented as part of the project. The building will be carbon neutral as regards operational emissions during its use, as renewable electricity will be used in addition to geothermal heat,” Aalto says.
Sustainability is taken into account not only in heating but also in mobility. All parking spaces will be equipped with electric car charging facilities and the property will also have a shared car for residents to use The building’s carbon footprint is further reduced by the domestically manufactured wooden balconies that will face the courtyard in the new homes. The wooden balconies have a negative carbon footprint, which means that during their lifetime, they will absorb more carbon dioxide than they emit.
Kotkatie street in Karakallio offers good transport links. The closest bus stop is only 300 m away, the nearest train stations around 2 km away in Kera and Kilo. Sello shopping centre in Leppävaara and Kehä I ring road are less than 10 minutes by car from Kotkatie, Turunväylä highway less than 5. Everyday services in Karakallio can be found at the local shopping centre only some 50 m from Kotkatie. The area offers excellent opportunities for enjoying the outdoors.
For media enquiries, please contact:
SATO Corporation, Arto Aalto, Vice President, Investments
phone +358 40 513 0702, firstname.lastname@example.org
SATO is one of Finland's leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2020, SATO owned nearly 26 800 apartments in Finland's largest growth centres and in St Petersburg.
We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term view. We increase the value of our housing stock through investments, divestments and repairs.
SATO Group's net sales in 2020 were EUR 303,4 million, operating profit EUR 179,6 million and profit before taxes EUR 129,5 million. The value of SATO's investment property is roughly EUR 4,8 billion.
Y-Foundation is the fourth largest landlord in Finland and a specialist in eradicating homelessness. Y-Foundation enhances social justice by offering affordable housing to those who face difficulties in finding an apartment. Y-Foundation’s operations are non-profit and politically independent. The group has over 17 300 apartments and operates in over 50 cities and municipalities in Finland. M2-Kodit is owned by the Y-Foundation.
Jatke Uusimaa Oy is part of Jatke Corporation that employs over 300 persons. The net sales of the Jatke Corporation is approximately 300 M€. Jatke Corporation operates in the Southern Finland. The subsidiaries of the mother company Jatke Oy are Jatke Pirkanmaa Oy, Jatke Länsi-Suomi Oy and Jatke Julkisivut Oy. Jatke is a Finnish, private owned construction company. We build homes and premises where people feel well and comfortable to live in. We believe that the basic elements will make us succeed: We do what we promise and take responsibility of our work.