Nordicum - Real Estate Annual Finland 2014 | Page 26

Run for the Border
Still, Kokkinen and Louko feel that they are
only half way into the project. The men are
eager to extend the line further on west. According to plans, this would mean adding a
stretch of seven kilometres to the line, all the
way to municipal border. Along the way, five
new metro stations will be realised: Finnoo,
Kaitaa, Soukka, Espoonlahti and Kivenlahti.
Conventional wisdom would decree
that it makes sense to continue the project
on-the-fly, since there is labour, expertise
and equipment available. Having to stop
now and pick up the pieces, say, five years
from now, would be costly.
Olavi Louko says that the momentum
should be preserved: “We want to keep going, and we’re talking with the Ministry of
Transport to see, if we can go all the way,”
says Louko. The City of Espoo is asking
for the State to pay 30 % of the investment,
but not right away. The government money
should come in around 2017–2018.
“Instead of a handout, we are simply asking for a green light, a commitment
from the State.” The Government has outlined that in infrastructure projects of this
scope, the State will participate only after
“case-by-case” deliberation.

is underdeveloped due to wastewater treatment activities and other secondary use of
the area. Now, as the wastewater treatment
plant is shifting operations elsewhere, there
will suddenly be more room for development – in many fronts.

The Ultimate Shoreline
Olavi Louko, speaking in behalf of the City,
says that Finnoo is something really special.
“It’s the very last significant seaside area
open for development,” he says, adding that
the City is committed to making this “last
shore” truly great.
Project Director Kimmo Leivo from
the City of Espoo knows that he is in charge
of a very important development effort: ultimately, Finnoo could accommodate as many
as 17,000 residents
“Presently, there are old industrial
zones in Finnoo and a lot of vacant areas
that are used for no specific purpose at all,”
he says. “This means that we are able to do
things very sustainably from day one; we
can be very efficient in the implementation.”
According to the plan, the northern
part of Finnoo will be largely defined by
the coming metro station and its surroundings. There are plans which allow high-rise
construction by the metro station: the highest of these towers could reach 30 storeys.
“Finnoo could feature as many as
10,000 apartments by 2040,” Leivo says,
adding that most of the residential buildings would be ready by 2030.

Go or No-Go?

Marina Appeal

In early December, it was reported that the
deliberation will not be yielding any fruit
just yet: the Minister of Traffic Merja Kyllönen is taking the issue to be decided by
the entire Government. Prime Minister Jyrki Katainen’s Government will look at the
extension proposal – as well as other major
infra projects – in the spring.
The building of the Finnoo-Kivenlahti line could have more far-reaching impact
than just helping out commuters in West Espoo. For one, additional construction would
give Helsinki time to get their plans for their
own, eastern metro expansion ready. This
means that after the bonus stretch west is up
and running, the construction crews could
head east and start work in east Helsinki.
Under this scenario, there would be
plenty of work for metro construction professionals in the Helsinki Metropolitan Region until 2030 – which, in turn, should
make the situation attractive for also international players who don’t want to commit
to short-term projects.
Nevertheless, even if the Government
wouldn’t look favourably upon Espoo’s request, Finnoo station can be added to the
western end of the metroline without much
difficulty. At present, this seaside neighbourhood is home to only few people, as it

The new-and-improved Finnoo is also looking to fully explore its access to the sea in
the south. Presently, there is already an active boat harbour – accommodating 1,100
boats, it is the largest of its kind in the metropolitan area – and the harbour concept will
be fine-tuned, as well.
“We are zoning a marina-type housing arrangement, a high-quality, vibrant area, with a fly-bridge cruise through channel
surrounded by broadwalks with restaurants
and cafés – and even an artificial island with
condominiums. We will really make the Marina area into something which hasn’t been
seen in Finland before.” The actual boat harbour could double its current boat capacity
to nearly 2,000.
Espoo Mayor Jukka Mäkelä has promised that the new Finnoo will become a “sustainable, green maritime city of international standard” for all Espoo inhabitants. The
City is also most eager to promote pedestrian and bicycle traffic, as well as energy efficiency and carbon neutral practices.
“We are inspecting a LEED or
BREEAM certification for the area to make
sure that we leave no stone unturned in our
quest for a green city,” sa \