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SATO to offer 257 new rental homes in the Finnoo district of Espoo

Sep 26, 2022

SATO, one of Finland’s largest rental housing providers, is developing new non-subsidised rental homes on Peijinkuja street in the Finnoo district of Espoo. Construction started in August 2022 and the homes will be completed in stages during autumn 2024.

On 7 July 2022, SATO signed contracts with builders Lujatalo Oy on new apartment buildings, their grounds and an underground parking facility in Finnoo at the addresses Peijinkuja 6 and 10. The site will have two 8-storey buildings and one with 13 stories. All told, there will be 257 homes plus a ground-level commercial unit to let.

All homes in the buildings have a glassed-in balcony and some also have sea views. Peijinkuja is but a kilometre from the seaside and the new Finnoo metro station is just one street over.

The evolving Finnoo district is a new, densely built urban residential area on the western extension of the metro line. The new Finnoo blends an urban vibe with the surrounding lush greenery and the seaside. The western metro extension to be completed in the coming year will provide the area’s residents with smooth and fast public transport. The first residents have already moved into the area and the buildings now rising in Peijinkuja represent the next phase in the area’s development.

The Finnoo metro station environs used to be dominated by detached houses. A terraced house was demolished to make way for the apartment buildings on SATO’s plot.

“SATO’s Peijinkuja project is grounded in long-running development efforts. Together with the City of Espoo, we drafted a new local detailed plan for the terraced house property owned by SATO in the old Hannus area of detached houses that is now on its way to become the Finnoo district of Espoo. SATO aims to continue its development of the Finnoo district also in the future,” says Arto Aalto, VP for Investments at SATO.

Pleasant and sustainable apartment building living

“The design of new SATO rental homes is always informed by energy efficiency, sustainable building solutions to last for decades to come, and adaptability. Some of the load-bearing concrete walls of the studios have been replaced with light walls between the units. This way, they can be combined with the apartments next door if going forward, demand arises for larger apartments,” Aalto says.

The property will be rated energy class A. It will have district hearing and also feature solar power systems on the roofs of all apartment buildings.

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. Some of the storage units are conveniently located on the residential floors, right next to the doors to the homes.

The homes have direct lift access to the parking facility consisting of 100 parking spaces. The facility in the next block provides parking for a further 30 cars. All parking spaces will be equipped with electric car charging facilities.

The top floor of the highest, 13-storey building will have three shared saunas where residents can admire sea views from the actual sauna benches. The top floor also houses a club room with a balcony facing the seascapes of the Finnoo district. The pleasant grounds of the buildings are shared by residents of the SATO buildings and two other properties.

For media enquiries, please contact:

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

SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.

SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.

In 2021, SATO Group’s net sales totalled EUR 298.3 million, operating profit EUR 304.5 million and profit before taxes EUR 259.4 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi