AYY has decided to sell its residential properties in Helsinki – more student housing zoned for Otaniemi

AYY has decided to sell some of its residential properties in Helsinki – more student housing zoned for Otaniemi.
AYY:n punatiilinen Miestentien-rakennus ja kylmä bensa-asema. Etualalla maantie ja tienviitat kehä 1:lle, leppävaaraan, keilaniemeen ja munkkiniemeen.

In accordance with the policy made in 2016, AYY has decided to divest its sites which are located further away from Otaniemi, and for which fewer members apply each year. The decision is also based on AYY’s strategy to develop housing stock in a member-oriented and sustainable manner. At the same time, AYY is promoting the construction of student housing on campus and its surroundings. After the policy, AYY has already built 253 new student flats and over 1,000 more flats are planned for Otaniemi in the current decade.

The properties for sale located in Helsinki

The properties for sale are located in Helsinki, but more specific sites can only be confirmed once the deal is closed. A letter of intent was made July 7th, 2022, with two buyer candidates. The candidates’ intention is to establish a fund, which would own the properties. We know that all sites must be repaired, which is why flats may need to be emptied in the future. If the lease is terminated due to repair, the notice period of six months applies to the landlord. If AYY member’s lease is terminated, the person will be given priority on the housing waiting list.

More than a thousand flats planned in Otaniemi

AYY plans to build more than a thousand flats in Otaniemi. The amendment to Otakaari city plan is due to be discussed by the Espoo City Council in August. More than 800 flats are planned for the complex of four buildings at Otakaari. The joint project of Miestentie with HOAS and the City of Espoo has progressed to the construction permit stage and the project has also received a conditional booking decision from ARA in June. The Miestentie project is a continuation of the student housing complex completed in 2018, which was also implemented in cooperation with HOAS. HOAS is also building smaller housing sites in Servinniemi. In June, the Espoo City Council confirmed the amendments to the housing plan related to these sites. In addition, student housing is planned for Marine Technology and Biology areas.

More information:
Monika Kivimäki, Financial Director
+358 40 052 4014

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