Nearly 200 new rental and part-ownership homes for SATO in Hervantajärvi area of Tampere

SATO, one of Finland’s largest rental housing providers, is developing nearly 200 rental and part-ownership homes in the up-and-coming Hervantajärvi area, close to the terminus of the soon-to-run Tampere Tramway. Construction begins in June of the current year and the homes will be move-in ready in spring 2023.

On 14 June 2021, SATO signed a construction contract with builders Jatke Pirkanmaa Oy on the properties Kiinteistö Oy Tampereen Heittoniitynkuja 5 and Asunto Oy Hervantajärven Helmi, Tampere. Kiinteistö Oy Tampereen Heittoniitynkuja 5 will consist of 132 new non-subsidised rental homes while Asunto Oy Hervantajärven Helmi will have 52 FlexHome part-ownership homes.

“Besides new rental homes, we are also introducing in Tampere a new kind of short-term part-ownership model, the FlexHome, 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. During the period of part-ownership, you pay part-ownership rent, a rent that is below the market level for the home, which then allows you to pay down your housing loan at the same time,” explains Miikka Karjaluoto, SATO Regional Director for Tampere.

In FlexHomes, the period of renting is shorter than in traditional part-ownership models, only five years, after which the resident can decide to acquire the home in full at the original selling price. Alternatively, they may choose to sell the home back to SATO and continue living there as a tenant.

Design guided by sustainable choices

The design of the buildings caters for energy efficiency and sustainable building solutions that will last for decades to come. The choice of heating for the buildings is geothermal heat, which makes use of energy stored in the ground. Geothermal heat reduces carbon dioxide emissions and also has an additional 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 in rental home.

“The buildings will will be carbon neutral as regards operational emissions during its use, as renewable electricity will be used in addition to geothermal heat,” says Arto Aalto, SATO Vice President of Investments.

Sustainability has also been taken into account with regard to mobility. All parking spaces will be installed with infrastructure in readiness for electric car charging. There are also plans to make shared cars available to the residents of the entire block.

Every home will feature a glassed-in balcony and some of the ground floor units will also have a terrace. The buildings will have sauna and club facilities and laundry and drying rooms for the common use of all residents along with a wide range of storage facilities including individual storage units for each apartment and shared bicycle storage.

Hervantajärvi is located 12 km from the centre of Tampere and around 2 km from the district of Hervanta, which is home to around 25,000 residents. Hervantajärvi is roughly 20 minutes from the centre of Tampere by car or tram. The Tampere Tramway currently under construction will have its terminus in Hervantajärvi.

The Hervantajärvi area will see intense development in the next few years. The residential blocks in the area will centre on an urban park and the entire residential area is surrounded by a wide forested recreational area that offers fabulous opportunities for outdoor pursuits.

For media enquiries, please contact:

SATO Corporation, Miikka Karjaluoto, Regional Director, Tampere region
phone +358 40 513 0385, miikka.karjaluoto@sato.fi

SATO Corporation, Arto Aalto, Vice President, Investments
phone +358 40 513 0702, arto.aalto@sato.fi

More information about FlexHomes: https://www.sato.fi/en/flexhome

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.