Nordicum - Real Estate Annual Finland 2014 | Page 53

ment, says that the development of Tapiola
Commercial centre is a high priority for the
company. “Likewise, expanding our expertise with regards to shopping centres is very
important to us,” he says.
Tapiola is near and dear to the hearts
of all Finns and widely regarded as a natural
treasure; upon its birth 60 years ago, Tapiola
was a shining example of a modern garden
city. The first-built parts of Tapiola Commercial Centre from the 1950s and 1960s
still form a valued architectural landmark.

Take a Stroll!
As the Helsinki metro line extends to Tapiola
in 2015, the blocks to the south of the original centre will be renewed according to
the same urban sociological principles that
first created the Garden City – and the complexion of the centre will become that much
brighter and stronger. “The new Tapiola centre will become the largest pedestrian centre
in Finland,” Immonen points out.
The level previously in use for private
car traffic (Merituulentie, Länsituulentie)
will feature retail spaces and a pedestrian
area. There will be plenty of parking space
for bikes in the vicinity of the metro station. New plazas and pedestrian streets will
appear in Tapiola Centre, and the roof area
will be green and well-groomed.
The real game-changer here is the metro: with 30,000 passengers using the Tapiola station every day, the volumes are sufficient to usher in a completely new chapter
in the development of the neighbourhood.

Back in the Game

Hit the Wallet
According to Tapiola’s studies on the neighbourhood, there is plenty of volume in the
area: in fact, 200,000 people live within a
10 minute car ride from the shopping centre. Also, the purchasing power in this particular area is second to none in the entire
country, so one can forecast a great future
for a shopping centre that features a youthful approach and dedicated focus on leisure.
Vesa Immonen, the Managing Director
of LocalTapiola Real Estate Asset Manage-

The over-all aim is to create a lively, multifaceted urban centre with modern mass
transportation terminals, well-organised
parking and maintenance arrangements.
When all these things come together – building on a great legacy – there will be no stopping Tapiola’s comeback: “There is no place
quite like it in the entire country,” Immonen
says, adding that the foundation is solid and
well-known and future development will only add to the appeal of Tapiola.
Kirsi Borg adds that Tapiola has always been known as a cultural powerhouse
and more and more culture and sports players flock to the neighbourhood. The City of
Espoo theatre, for one, is already here and
there’s talk of realising a brand new City
theatre right here, too.
But what was it that caused Tapiola
to miss a step or two – why is the commercial appeal of the centre in need of a rescue
in the first place? Borg comments that the
fragmented ownership of the Tapiola Centre didn’t exactly help in the development
of the area and that the last decade has seen
the emergence of strong rivals in the form
of new shopping centres.
“Tapiola centre has not been a really

respected, dynamic commercial centre for at
least ten years. Now, however, we are confident that a united, strong effort will bring the
consumers back,” Borg outlines the strategy.

Stockmann Support
A big part of the attack plan is Stockmann
which will form a major anchor for Ainoa
in the coming years. The department store
will move from its previous location to Ainoa when the Phase II