Central Pasila

Avara is implementing a total of three new developments in two different blocks in Central Pasila, Helsinki. A total of 179 affordable ARA rental apartments with short interest subsidies and 56 non-subsidised rental apartments will be built in the Ratapiha railway yard blocks.

During 2023, the construction of 235 new Avara apartments was commenced in the Ratapiha railway yard blocks. Two new developments will be built on Tulistimenkatu, comprising 56 non-subsidised rental apartments and 44 affordable subsidised rental apartments funded with a 10 year interest subsidy loan. At the corner of Veturitie and Höyrykatu, 135 ARA rental apartments and 5 commercial premises will be built. The new apartments are expected to be completed during 2025. 

Energy-efficient rental apartments in rapidly growing Central Pasila 

Construction of the Ratapiha railway yard blocks began in 2018, and by 2030, the area is expected to provide housing for over 3,000 residents. Avara’s new property development projects are located close to excellent transport connections and services north of the Mall of Tripla. The properties will include energy class A rental apartments, ranging in size from compact studios to larger four-room apartments.

The new property development projects complement Avara’s two different apartment portfolios 

Of the rental apartments to be built in the new developments, 179 will complement the housing portfolio of the Avara Vuokrakodit I Ky fund, which invests in affordable housing. The remaining 56 apartments will become a part of the Avara Residential Fund II, which invests in non-subsidised housing in Finland’s growth centres. Key investors of both funds include several professional institutional investors.