Nrep launches EUR 100 million hybrid living development in Finland
Nrep, Urban Partners’ real estate investor and developer, is launching a new construction project in Helsinki, Finland, which combines build-to-rent housing and care homes within the one scheme. The project responds to the growing need for housing and high-quality care services in the Helsinki Metropolitan Area.
A fund managed by Nrep (NSF V) purchased the plot of land in Herttoniemi, Helsinki and subsequently secured planning consent to deliver a hybrid living scheme with a gross development value of EUR 100 million. The modern complex will offer high-quality housing and care facilities for the elderly alongside rental accommodation. Construction is scheduled to begin in autumn 2025, with delivery targeted in 2028.
A total of 425 apartments and 108 care homes will be delivered across four buildings on the site, totaling 27,500 sqm. The floor plans of the apartments have been carefully considered to cater for residents’ diverse needs, maximizing natural light, with the majority also including a private balcony. A large green courtyard offers a peaceful communal area, whilst enhancing residents’ wellbeing. The scheme will provide extensive and high-quality common areas that serve all residents and support community engagement, including a gym, saunas and a shared lounge.
“With this ambitious project, we are delivering much-needed high-quality rental housing and elderly care facilities to the Helsinki market. While Nrep has extensive experience in the Living sector, this innovative hybrid model is a first for us, responding to the challenges of both urbanisation and ageing populations. We are excited to demonstrate how integrating diverse communities can foster a strong sense of belonging from day one. As with all Nrep developments, this project will be built to the highest standards of quality and sustainability, ensuring long-term value and resilient income streams for our investors,” says Rune Kock, CEO of Nrep.
The project will be implemented in accordance with Nrep’s principles of sustainable construction. The buildings will be equipped with solar panels, geothermal heat will be used throughout, and low-emission green concrete and steel will be used as materials. All buildings are targeting energy class A and the highest Platinum LEED environmental certificate.
The plot is located in an excellent location near the Herttoniemi metro station and the Hertsi shopping centre, which offers a wide range of services from grocery stores to pharmacies and libraries. The nearby Herttoniemi outdoor recreation areas, Kivinokka and the Roihuvuori cherry orchard, offer excellent recreational opportunities.
Arco is the appointed architect for the project and the contractor is Lujatalo Oy, with whom Nrep has previously collaborated on the construction of a residential block in Espoo.