Property development and renovations

Acquired properties and renovation in the Helsinki Metropolitan Area

In 2014, VVO acquired rental apartments in Helsinki from the Helsinki Deaconess Institute (Etu-Töölö district), Signe and Ane Gyllenberg Foundation (Munkkiniemi district) and Paavo Nurmi Foundation (Lauttasaari district). In addition, VVO acquired rental apartments from Tapiolan Lämpö Oy in Pohjois-Tapiola, Espoo. All the acquired apartments – a total of 172 – are privately financed.

VVO Group is renovating Hernesaarenkatu 17, a building in the Hernesaari district of Helsinki dating from 1929. The renovations were launched in June with demolition work. When renovated, the building will contain 76 top quality Lumo apartments, five of which will be brand new loft apartments. As a result of the renovations, the arrangement of the apartments in the building will change and their number will decrease, as smaller apartments are combined to form larger, through apartments. The average size of the apartments will be 49 m². Two new sauna areas, a laundry room and a club room will also be built. Storage space will be moved from the attic to the basement. The ground floor will also contain restaurant premises.