Nrep to build €100m hybrid living development in Helsinki
Nrep, Urban Partners’ real estate investor and developer, is launching a €100 million hybrid living development in Helsinki, Finland.
The new project, which combines build-to-rent housing and care homes within one scheme, responds to the growing need for housing and high-quality care services in the Helsinki Metropolitan Area, the group said.
“With this ambitious project, we are delivering much-needed high-quality rental housing and elderly care facilities to the Helsinki market,” said Rune Kock, CEO, Nrep. “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.”
Nrep wants to demonstrate how integrating diverse communities can foster a strong sense of belonging from day one, Kock said.
A fund managed by Nrep (NSF V) purchased the plot of land in Herttoniemi, Helsinki, in February and is now looking to secure planning consent to deliver a hybrid living scheme with a gross development value of €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, for a total of 27,500 sq m. The floor plans of the apartments have been carefully considered to cater for residents’ diverse needs, maximising 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.
The plot is located 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 project will be developed 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.
“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,” said Kock.
