Nordicum - Real Estate Annual Finland 2014 - Page 59

Exit Army, Enter Business? With regards to urban development, the City of Lahti may well have another ace up its sleeve – or, in this case, perhaps a diamond in the rough. The Finnish armed forces are shutting down the Hennala garrison, located on the west side of the city, opening, in effect, the area for redevelopment. The land and real estate is owned by the State and administered by Senate Properties who are testing the waters to see, just how keen are the construction companies on the Hennala area. Heikki Laitakari, Division Director, Business Area Development Premises, from Senate Properties says that the goal here is to find a working concept for redevelopment: “If everything goes well, we could be looking at a brand new city district with as many as 10,000 residents,” Laitakari says. There are already existing buildings with a volume of about 60,000 floor square metres, but Laitakari sees that number as only the starting point: “The area has potential to add 200,000 or even 300,000 floor square metres of new construction.” Deliver the Total Package Right now, Senate Properties are working closely with the City of Lahti to find the right concept that would allow the emergence of a new city district, complete with both residential and commercial offering. “Clearly the idea is to have a solution whic