Nordicum - Real Estate Annual Finland 2019 - Page 37

arena” in Finland can rival the total enter- tainment offering that the Tampere project will eventually deliver. In addition, most Finnish arenas do not have a very central location, but at Tampere, you will be exactly where all the action is. “In a situation like that, it’s likely that people want to stay longer, too.” According to Kankare, SRV feels that it is moving forward with a very like-minded partner, because the City of Tampere is very committed to the project – and has been, actually, since early 2000s. “Tampere has had the vision and the will to persevere with this project – and we’re looking forward to building some- thing great together.” Metro Continues West Full Deck, Please! Yet another kind of center is being built in Finland’s second biggest city, Tampere. For years, there have been plans to solidify the city structure of Tampere by building a deck above the railway tracks downtown. Bran- dishing the name, Tampere Deck, east and west Tampere will be joined together via a new type of hybrid block – one that com- bines housing, commercial pursuits and a state-of-the-art sports/event arena. Spearheaded by SRV and the City of Tampere, the project features a hotel, res- taurants and other entertainment premises. According to the project schedule, the entire project will be completed in 2023. “Work is now underway and we’re looking forward to bringing the total hybrid package into the heart of Tampere,” Kankare reports. SRV is eager to boost the urban evolu- tion in Tampere – also the largest inland city in all of Scandinavia – and has been talking with the City since summer 2016 to develop this project onwards. Arena Appeal With a price tag of over EUR 500 million, the project is a grand undertaking even for a seasoned veteran such as SRV. For exam- ple, the sports and event arena in question will be the biggest in the land, with a capac- ity of approximately 13,000 people. Toni Kankare believes that “no other of the community. It’s clearly something that has been missing in Kerava,” he says, add- ing that, for instance, the opening day saw a “wave” of 19,000 patrons (not bad for a community of 35,000 people). The project also has residential reach, as SRV is building 140 apartments in ­connection to the shopping center. “70 of these are to be delivered in late Novem- ber, and the rest by January 2019,” Kankare says. According to Kankare, going small, local and grocery-led may well be the ticket in the future as well. Looking at the pros- pects of shopping centers in relation to the size, he’s most worried about medium-size centers. “Compact, small shopping centers who have a clear target group will be fine – and so will the biggest shopping centers who are attractive because of size alone. It’s the cent- ers in the middle who may have to refocus their concept and finetune their message.” Going back to the Helsinki Metropolitan Area, Kankare notes that the launch of the western metro line to Espoo in November 2017 was a welcome boost – and that SRV is very much involved in building along the expansion line, as well. Reaching to Kiven- lahti, even further west, the “bonus stretch” offers plenty of opportunities for develop- ment. “We’re very visible in the development­ of, for example, Kaitaa, Espoonlahti and Kivenlahti, looking to bring both residen­ tial and commercial units into these communities,” Kankare says, adding that especially Kivenlahti, as the end of the line and a feeder traffic hub, holds special promise. SRV is also active with regards to the existing metro line in, for example, in Espoo’s Niittykumpu. Linking residential and commercial elements with transporta- tion is very much in the cards there, too. “Hybrid development gives us the opportunity to create diverse city structure. The most vibrant communities usually pos- sess a solid mix of various functions, never focusing on just one.” l Nordicum 37