Next Level
LocalTapiola is leading the revitalisation of legendary Tapiola Centre
Finnish economy seems to be emerging from hibernation , with the construction sector leading the way . One development project of also national significance is Tapiola , the iconic “ Garden City ” of Espoo . With the first parts of the Tapiola Centre dating back as far as the 1950s and 1960s , it is long overdue to give the Centre the beauty treatment it deserves .
F or a long time , however , the owners in the Tapiola Centre were reluctant to do much in the neigbourhood , since it would mean considerable investments . Then the decision was made by the City of Espoo to build the western metroline , with Ta piola as a key station . Metro promised fresh momentum for the revitalisation project and one of the local owners , Local- Tapiola , really took the lead . Pretty soon , LocalTapiola was making hefty investments in the Tapiola Centre . In time , also other investors followed – and now , as economy is heating up again , the situation is looking very positive indeed .
Comeback : The Making Of
Kim Särs , CEO of LocalTapiola Real Estate Capital Funds , observes that LocalTapiola is in a great position to take advantage of the turning tide . He looks back at the woeful year of 2014 when metro plans were stalling and so was the land usage agreement with the City of Espoo ( not to mention the struggling economy , too ).
“ In a couple of years , we ’ ve made an almost total turnaround . The era for growth is about to begin ,” he says .
“ LocalTapiola is certainly doing its part – as it has been doing for a number of years now ,” Särs points out . Already owning more than a dozen properties in the Tapiola Centre , the company ’ s local investment is expected to reach EUR 600 million , representing the biggest real estate investment in the history of the company .
But what ’ s so special about Tapiola ? Well , the neighbourhood itself has been regarded as a natural treasure since its birth over 60 years ago : a shining example of a modern community rooted in natural values . Upon its completion , Tapiola Centre formed a highly valued architectural landmark for the “ community of tomorrow ” that attracted also international attention .
Walkability First
To this day , the Tapiola “ core brand ” remains unchanged , but a lot can be done in the upgrade department . According to the plans , the new-and-improved Tapiola Centre will , in fact , become the largest pedestrian centre in Finland .
Through the years , Tapiola Centre has been unique in the sense that it opens outwards , not just inwards like a regular shopping centre does . The Centre has an inviting , engaging quality that not everyone can match .
LocalTapiola shares the name with the neighbourhood ( Tapiola is the name of the ancient forest kingdom of Finnish lore ), and has made its home in the area , too . The company has over 1,500 employees here , and , actually , it ’ s hard to imagine the company headquarters being located anywhere else .
“ Tapiola is part of who we are ,” Särs comments .
26 Nordicum