SATO Corporation, Press release, 12th April 2021 at 10:00
SATO, one of Finland’s largest rental housing providers, is developing non-subsidised rental homes on Maaherrantie street in the the Helsinki district of Oulunkylä, in the ‘Wise Mobility City Block’ uniquely situated at the intersection of the Jokeri Light Rail line and the main railway line. Construction begins in April of the current year and the homes will be move-in ready in spring 2023.
The historical area around the Oulunkylä railway stop is now rapidly developing. The advent of the Jokeri Light Rail line will bring along with it new homes as well as new services. Once service starts on the Jokeri line, Maaherrantie street on the Veräjämäki side of Oulunkylä will be converted into a public transport street lined with new commercial premises and densely built blocks of flats. The Jokeri Light Rail line will go into service in June 2024.
The next few years will see the construction of around 500 rental, owner-occupied and part-ownership homes in the Wise Mobility City Block innovated by SATO on Maaherrantie street in Oulunkylä. The current buildings on the block that used to provide housing for VR railway company employees will be torn down to make way for the new builds, as it was determined that development of the block would be a financially more viable option overall than full refurbishment of the existing buildings.
“This also allowed us to triple the number of homes in the area,” Arto Aalto, SATO Vice President for Investments, points out.
SATO and builders Skanska Talonrakennus Oy have signed a contract on the construction of three blocks of flats in the Oulunkylä ‘Wise Mobility City Block’. All told, SATO will have 222 rental homes of varying sizes as well as three business units on the block. Construction begins in April of the current year and the homes will be move-in ready in spring 2023. The chosen heating method for the buildings is geothermal heat, which reduces carbon dioxide emissions and has a further 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 will be carbon neutral as regards operational emissions during its use when renewable electricity is used in addition to geothermal heat.
Later on, SATO will also have a FlexHome building built on the block. FlexHome is a new kind of short-term part-ownership model that lets people buy into a home with a small initial capital outlay and then acquire the home in full after five years of part-ownership.
Prime location at the intersection of Jokeri Light Rail and main railway lines
The location of the site named ‘Wise Mobility city block’ at the intersection of the Jokeri Light Rail service and the main railway line is unique. The most important starting point adopted for this SATO block was a city block structure based on public transport links and opportunities for pedestrian and bicycle traffic as well as flexibility in response to changing housing and mobility needs. All basic everyday services are available within walking distance of the block. “The great access to public transport and pedestrian and bicycle routes makes getting about easy also for people who don’t own a car,” Aalto says.
“And for those occasions when a car is needed, SATO residents in the block will have shared cars available for their use. The heating outlets in the parking spaces for all SATOhomes will be smart eTolppa heating poles that can easily be made to accommodate electric car charging as well. Cyclists might most appreciate the separate bicycle maintenance stations that will also be provided,” Aalto continues.
Helsinki city centre is about ten minutes from Oulunkylä by local commuter train. The train trip to the airport takes around twenty minutes. The future Jokeri Light Rail line will be an express tram service running between the Itäkeskus district of Helsinki and the Keilaniemi district of Espoo. The tram service will replace the current 550 bus service that is among the most heavily used bus lines in the Helsinki region.
The area of Oulunkylä offers its residents not only good access to transport and services but also a wide range of opportunities for activities and outdoor recreation. Getting around from Oulunkylä is quick and easy thanks to excellent transport links.
For media enquiries, please contact:
Arto Aalto, Vice President, Investments
phone +358 40 513 0702, email@example.com
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.