Espoo and Senate Properties to develop high-quality office and service premises in southern Otaniemi
Espoo and Senate Properties are preparing a cooperation agreement to develop an area in southern Otaniemi, which lies close to Keilaniemi and the sea. This is an area of 6,400 m² around Kuusisaarentie, Miestentie and Otaniementie, next to a light rail stop.
In the current detailed plan, the plot is a street and traffic area with no buildings. Espoo and Senate Properties intend to develop the area for work and services instead of previous plans for housing.
The cooperation agreement lays down the principles under which the area is developed, its development costs, transfer of the land, and the sharing of the land sale revenue. The permitted building volume in the plan amendment will be divided along the proportion of ownership. The city will own 53 per cent of the land, and Senaatti Properties will own the remaining 47 per cent.
The city and Senaatti Properties will hold a common call for the planning reservation, seeking an operator to promote the amendment to the detailed plan and to promote the intended workplace operations. The objective is an amendment to the detailed plan that would allow office, service and hotel construction. The sought-after permitted building volume is roughly 10,000–15,000 m² of floor area.
Miestentie will be realigned to replace its current junction to Otaniementie with a new junction to Kuusisaarentie. Traffic to the new plot will be directed through Otaniementie.
The Espoo City Board will handle the cooperation agreement with Senaatti Properties in its Monday, 17 August meeting.