Nordicum - Real Estate Annual Finland 2016 | Page 39

to imagine that a completely new chapter
in the development of the neighbourhood is
about to begin. The over-all aim is to create a
lively, multifaceted urban centre with modern
mass transportation terminals, well-organised
parking and maintenance arrangements.
Vesa Eskoli, Real Estate Investment Director at LocalTapiola Real Estate
Asset Management, believes that there will
be no stopping Tapiola’s comeback:
“This is where strong community
values meet dynamic urban structure – it’s
simply a great platform for future success,”
Eskoli says.
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. As a consequence,
the Tapiola Centre will be totally transformed. For example, the level previously
in use for private car traffic (Merituulentie,)
will feature retail spaces and a pedestrian
area; there will be plenty of parking space
for bikes in the vicinity of the metro station;
and new plazas and pedestrian streets will
appear in Tapiola Centre, and the roof area
will be green and well-groomed.

Ainoa the Anchor
And then there is the shopping centre Ainoa
(owned by Tapiola KR III Real Estate Fund)

which is ushering in a new era for local
shopping. Having opened its doors in October 2013, the newcomer is still relatively
small – with 10 000 square metres and 30
shops – but, eventually, Ainoa will be considerably bigger.
The second phase of constructing
Ainoa has already started, and the shopping centre will expand over Merituulentie. The expansion will increase the square
area of Ainoa from the current 10,000 square
metres to 30,000 square metres. The second phase of construction will be finished
in spring 2017, and the shopping centre will
then include premises for e.g. the department
store Stockmann.
After the second phase, the third
phase will start by demolishing the building where Stockmann is currently situated
and constructing new premises. The demolished building will be replaced with premises of approximately 20,000 square metres,
and after that Ainoa will cover over 50,000
square metres and include 100 shops.

Driver for Change
According to Vesa Eskoli, there’s more to
come:
“Third phase of Ainoa will be completed by 2019, and there are plans for phase
four, too,” he says, adding that Ainoa has

become an important rallying point for the
entire “Tapiola Renaissance”.
“Especially as we’re strengthening
the residential element in Tapiola, there’s a
sense that Tapiola is going back to its roots,
to the original idea of quality living.”
According to Eskoli, a completely
new type of residential area will be built on
top of Ainoa. The area is intended for the
public, offering an attractive living environment in the heart of the Garden City. The
area – going by the name Tapiolan Kirjokansi – consists of apartment buildings as
well as row houses.
“Taken together, there will be a total
of 260 apartments,” Eskoli adds.

Just Warming Up
While residential concerns are addressed,
boosting parking facilities is also an issue.
The central car park in Tapiola offers firstclass parking space in connection with
Ainoa; the second phase of Tapiola Park,
which will be finished in spring 2016, will
push the number of parking places to 2,000.
Talking about the LocalTapiola strategy for Tapiola Centre, both Immonen and
Eskoli assess that the company is just getting started:
“We will be a strong player in this
neighbourhood in the future, as well.” O
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