SRV plans apartment towers above Karhusaarentie-road in Tapiola


Press release December 13, 2007                                                 

          

SRV has submitted a planning reservation application for a housing area above   
Karhusaarentie-road. The area is located in the city of Espoo between the roads 
Karhusaarentie and Keilaniementie above the future subway station Keilaniemi.   
The application is on the Espoo City Board's agenda on 18 December 2007.        

Karhusaarentie-road is designed to be covered with a deck. In addition to the   
apartment houses, a wide green area will be set on the deck. The area includes  
roughly 50,000 square meters of residential building volume. The plan includes  
four 27-28 storey houses with a total of 370 apartments. The apartments are both
rental and owner-occupied flats.                                                

- Our objective is to increase the housing supply in Tapiola, as well as to help
keep Tapiola centre alive and attractive commercial area, says Timo Nieminen,   
Senior Vice President of SRV Group Plc.                                         

- For the city of Espoo this project enhances the possibilities of the future   
subway. Moreover, there has not been an area in Espoo that would enable new high
class residential construction with sea view. Here is an excellent location,    
says Olavi Louko, Section Director of the Espoo Environmental and Technical     
Services.                                                                       

- As a by-product with the apartments we could cover the King-road I and have a 
direct access from Itäranta district to Keilaranta water-front. This would      
enliven both areas. The project could bring various services to the water-front.
The service supply is widened also with shops in the lower floors of the        
apartment buildings, says Louko.                                                

Putting the traffic under the deck reduces traffic noise in the Itäranta        
district. The location above the future subway station guarantees excellent     
public transportation connections both to Tapiola centre and elsewhere in the   
metropolitan area. Cars would be directed from Keilaniemi to existing streets.  
Thus the new area would not increase traffic in the existing residential areas  
in Tapiola.                                                                     

The new area offers environmental friendly living close to good public          
transportation connections. The views from the apartments are unique.           

Construction schedule would be connected to the construction of the subway      
station. The schedule depends also on the tunnel solution and permits from the  
highway authorities. The construction work could commence in 2010 and be        
completed together with the subway station in 2012.                             

Further information:                                                            
Timo Nieminen, Senior Vice President, SRV Group Plc, tel. +358 201 45 5244      
Olavi Louko, Section Director of the Espoo Environmental and Technical Services,
tel. +358 500 607754

Attachments

tapiolan tornitalot.zip