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Group building for Sompasaarenlaituri

July 16, 2018

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Sompasaarenlaituri is Fira’s second group building venture. The first was built in JätkäsaariMalagankatu 2, Helsinkiin Helsinki. Sompasaari has a special location in that the marine environment and the new built-up district create an invigorating living environment.

Sompasaarenlaituri, our joint building venture, is a Hitassite, which is being built on land leased from the City of Helsinki. However, the occupants of the buildings will not be chosen by draw, as is the conventional procedure. Instead, Fira Oy’s joint building venture team will select the future occupants of the building, i.e. the joint developers. This reason for this exceptional choice of process is that the object is being implemented as a joint building venture.

Our goal is to start putting together the joint building venture group in the autumn of 2018, and the plan is for the group to be fully formed by the spring of 2019. Construction work will begin in October 2019, and is scheduled for completion in spring 2021.

The houses will be sources of renewable energy

The buildings are being designed to be energy-efficient, and Indeed, the entire Sompasaari block is being built to meet this goal. SunZeb blockThe heat load from sunlight falling on the Sompasaari house will be put to good use. Solar energy is collected during the summer, and the heat is used by the Helsinki district heating network. In other words, the collected heat is circulated. In the wintertime, the spacious apartments, with a large window surface area, will benefit from sunlight.

From single-room to family apartments

A total of 49 apartments will be built on the joint building venture site. Sauna and club rooms will be built on the top floor. A restaurant room is being planned for the street level. This will be managed by the house management, that is, the rental income will go to the housing company. The entire block is served by an underground garage.

Hitas – a system for regulating price and quality

Hitas is a housing price and quality regulatory system in Helsinki that ensures that housing prices are kept in line with construction costs. In the case of the Sompasaarenlaituri joint venture building project, the regulations to be followed are the Hitas ll regulations for construction of non-subsidised owner-occupied dwellings. A register is maintained and monitored by the City of Helsinki urban housing services.

Corporate lending and self-financing

Fira Oy is negotiating a loan for a company to be set up that will cover 70 per cent of the total cost of the project. The shares of new housing units will be secured by a selected bank as collateral for corporate bonds for the construction period. The share certificates will be transferred to the shareholders after the building is taken into use, allowing the shares to be freely used as collateral for personal credit.

The self-financing ratio is 30 per cent of the purchase price of the dwelling, which is to be paid at the start of the project. The shares in the future housing cannot be used as collateral for the self-financing; the collateral must be taken care of before the joint building venture project is started.

Participation fee

By paying a fee, you ensure that your reservation is held for the whole period in which the joint building venture team is being put together. The fee is EUR 30 per m2, and a maximum of EUR 3000. The booking fee is included as part of the self-financing of the apartment. The booking fee will not be refunded if participation in the project is cancelled before the co-financing is paid.

Read more about Group Building.
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