By means of planning development, we can create conditions for the housing construction of the future. Development projects are long-term processes that engage a large group of authorities, partners, people living in the area and other stakeholders. The aim is to prepare a shared vision of the construction of the area and work together to fulfill that vision.
SATO's strengths are its own land and plot reserves, and its extensive experience in property development, with which we can continue to increase the range of apartments available. The book value of plot reserves totalled EUR 60.1 million at the end of September 2020. The value of new plots acquired from 1 Jan to 30 Sep 2020 totalled EUR 18.0 million.
Complementary construction plays an increasingly important role in SATO’s property development. Producing new apartments in an existing urban structure benefits not only services in the area, but also the environment. As the number of residents in a neighbourhood grows, services and the use of public transport also grow. And if the infrastructure already exists, the emissions from construction are lower.
During 2019, we initiated complementary city planning projects in Tampere’s Lentävänniemi and Turtola districts (approx. 14,000 floor square metres of new permitted building volume). Complementary city planning projects in Espoo’s Karakallio and Finnoo districts reached the plan proposal phase (approx. 17,500 floor square metres of new permitted building volume).
We often undertake larger city planning projects together with one or more partners. The advantages of partnership agreements include the sharing of expertise and responsibilities, as well as the diverse housing offering of the area being planned, including various types of rental and owner-occupied apartment loans .
During 2018, we began planning the development of Vantaa’s Hakunila district together with YIT and the City of Vantaa. The sparsely built suburb is perfectly suited to complementary construction, and Hakunila’s appeal lies in its wide range of outdoor recreation and sports opportunities. Development of the area is further supported by the upcoming Jokeri Light Rail 3 line, which will conveniently transport residents from Hakunila to both Aviapolis and Mellunmäki in Helsinki.
Another major SATO project is the MyyrYork Downtown area in Vantaa’s Myyrmäki area. In autumn 2018, we launched a design competition together with three partners and the City of Vantaa with the objective of developing 62,000 floor square metres of homes and 14,000 floor square metres of commercial space in an area where the current buildings (including the Isomyyri shopping centre) will be demolished. The aim for the residential blocks is to have efficient parking facilities and various mobility solutions that combine public transport, various forms of pedestrian traffic and car-sharing. SATO and YIT won the competition in early 2019.