July 23, 2018

A Kotikatu365 residential area to be built in Kuusamo, Finland

Health City Finland Oy will manage the construction of a new kind of urban block featuring residential buildings and service premises on the shoreline of Lake Torankijärvi in central Kuusamo. According to the company’s plan, the Hotkunranta area will be a realisation of the Kotikatu365 concept developed by the company: in addition to their own homes, the residents will have access to common spaces in the area and equipment and vehicles available for shared use as well as neighbourhood services that make their everyday life easier and support their well-being.

Health City Finland Oy has acquired the properties of Hotel Kuusamo situated in the area from the Koillismaan Osuuskauppa cooperative. In the preliminary plan, the company will manage the construction of up to five five-storey apartment buildings featuring 150-200 modern homes on the plot formerly occupied by Hotel Kuusamo. Some of the existing buildings will be renovated, and they will house commercial premises. The area will also feature an exercise-oriented day-care centre and a service housing unit for the elderly.

The Koillismaan Osuuskauppa cooperative will continue operating in the area as partner and shareholder in the property company to be established. The tenants of the existing commercial premises may also choose to continue operating in the area.

”In all, we will invest about 40 million euros into this project. In the implementation phase, it will provide employment for dozens of people in Kuusamo,” says Jari-Pekka Kelhä, CEO of Health City Finland.

The first apartment building at Hotkunranta is estimated for completion in early 2020.