AYY purchased parcels from the future Otakaari 15 property

Aalto University Student Union (AYY) has closed a deal with the City of Espoo and Aalto University Campus & Real Estate (ACRE), acquiring parcels from the future Otakaari 15 property. Now that the parcels have been transferred to AYY’s ownership, the plot formation can be finalised in accordance with the building permit conditions. This also allows construction work to begin as planned. 

AYY’s new Chief Financial Officer, Veera Kivivirta, started in her position in January and jumped right into major property and parcel transactions, as well as the related financing arrangements. Kivivirta has shown excellent competence and leadership, which has been crucial to the success of this significant project.  

‘The team has done excellent work on preparing the project for a long time. It is exciting to join in now as the project begins to take form’, rejoices Veera.  

The new AYY Board has also started its work, and Tuomas Nykänen, responsible for property and housing affairs, will have a unique year ahead as new student housing is built in Otaniemi.  

‘It is wonderful that we are receiving more much-needed student housing in Otaniemi. This year working on the Otakaari 15 project will be remarkably interesting’, says Tuomas. 

Otakaari 15 student housing project

Otakaari 15 student housing project will be implemented at Otakaari 15, on a plot bordering Martti Levón Park. The project includes the construction of 153 student apartments in a residential building with 4–6 floors and 3 staircases. The total floor area of the building will be 4,465 m2. The property will also include geothermal heating and a solar power system with a capacity of 30 kWp. Construction work will begin at Otakaari during February, and the property will be completed in August 2026. 

Further information  
Petri Kuusisto  
Project Manager  
Aalto University Student Union  
+358 50 307 3770  
petri.kuusisto@ayy.fi