Byggemenskaper i Helsingfors Joint housing ventures in Helsinki

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1 Byggemenskaper i Helsingfors Joint housing ventures in Helsinki How we do projects in urban Helsinki Konferens på byggemenskaper i Växjö Juha Sarakorpi 1

2 GHA growth is shifting to urban areas GHA - Greater Helsinki Area Annual growth people Growth rate potentially increasing in Helsinki, Espoo, Vantaa Population 2015 (growth) x 1000 Helsinki 630 (+10) Espoo 270 (+4-5) Vantaa 215 (+2-3) Large public traffic investments Ring rail connecting Helsinki- Vantaa airport to railway system West Metro underground form Helsinki to Espoo New : high speed orbicular tram 2

3 Helsinki urban development areas City center ESBO ESPOO HELSINGFORS HELSINKI VANDA VANTAA New harbour Kalasatama Saraco 2 projects Saraco is a part of the solution: Developing urban scale housing projects Directly to the people Refining the homes with the people Adhering to what people want Seeking for the best customer experience Executing the high quality that is wanted With a very reasonable cost Jätkäsaari Saraco 2 projects 3

4 Contemporary urbanism 4

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10 Jätkäsaari urban area in

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12 Jätkäsaari under construction 12

13 Jätkäsaari dense urban area Byggemenskap / Saraco 13

14 Kalasatama urban area in

15 Kalasatama under construction 15

16 Joint housing ventures Alternative way to purchase a new home. Instead of buying a house / a condominium > a group of people join together to have homes built for themselves. Two types existing: 1. Resident s initiative the traditional way 2. Consultant s initiative Saraco s projects Best suitable for private ownership In Finland, mainstream is MREC (bostads-aktiebolag, AsOy) In Sweden, mainstream is bostadsrätt; bostadsrättsförening, BRF The Finnish bostadsrätt (= extended rental housing; close to kooperativ hyresrätt ) is also suitable for joint housing ventures / byggemenskap tested in a 2-3 projects 16

17 In Helsinki City of Helsinki started allocating sites for joint housing ventures in Start with small scale projects: rowhouses, detached houses. City survey: Projects with an appointed project manager were evaluated more successful by the people than projects initiated by the people themselves first urban bigger scale projects initiated. Several projects completed. Saraco has pioneered in developing a professional project execution model. Saraco: 45 apartments completed, pilot project in Jätkäsaari Currently 3 projects in pipeline, ca 110 apartments 17

18 CASE Jätkäsaari, Helsinki City of Helsinki reserved this site for Saraco Reservation to Saraco Saraco should develop and execute a joint housing project = byggemenskap 18

19 CASE a block of flats + townhouse wing One project, one property Bostadsaktiebolag / MREC (similar to bostadsrättsförening BRF) Plot: leased by the city (tomträttsmark) Price / cost regulations: selling prices regulated by the city for 30 years (so called HITAS) 19

20 CASE 45 individual apartments High standard of construction All apartments tailored according to residents needs Varying floor plans Individual finishes and fixtures Parking under the courtyard, shared with neighboring property Project financing became an issue. To resolve that, an association was founded to drive new jurisdiction New law in force

21 CASE: interior design / marketing phase 21

22 CASE flexible floor plans for tailoring 22

23 CASE: Pilot project timeline Start of project planning First info and meeting with future residents Conceptual design MREC established Execution design Tailoring of apartments Tendering Construction Handing over Cost estimate Time schedule Project plan 23

24 CASE: under construction, street side 24

25 CASE at completion 25

26 CASE balcony 26

27 CASE block of flats + townhouse 27

28 CASE small balcony on street side 28

29 CASE apartment on top floor 29

30 Saraco s pilot in Jätkäsaari: bottom line 45 individually tailored apartments Superior quality Average purchase price 4335 /m2 the most affordable project in Jätkäsaari Exceptional client satisfaction 30

31 In the pipeline, Jätkäsaari HITAS regulated with a leased plot apartments City plan determines that parking places must be bought from an underground parking facility 31

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33 In the pipeline, Kalasatama No HITAS regulation - but will be the same cost / quality as others apartments Plot can be leased hopefully with an option to buy 33

34 Kalasatama nr 2 34

35 One city block Four projects, four developers: one is Saraco for a byggemenskap with HITAS regulation Courtyard and parking shared 35

36 Discussion Questions are welcome Thank you! 36