DEAS Asset Management has been selected as the partner by PPG Tikkurila for the planning and development of an exciting new urban area in Vantaa in Finland

PPG Tikkurila, the paint industry company that owns the land, has partnered with DEAS Asset Management to lead the planning and development in collaboration with the City of Vantaa.

"We are planning a variety of housing options, services, and job opportunities for the area. PPG Tikkurila emphasizes the harmonious integration of the new development with its existing operations, while respecting the area's history and environment. After careful consideration, we have chosen DEAS as our partner because they share our vision and recognize the potential of the area, just like we do," says Jari Lassila, Project Director at PPG Tikkurila.

DEAS Asset Management plays a key role in developing the area's concept and brand, ensuring it is functional and commercially appealing. The goal is to create one of the most attractive neighborhoods in the metropolitan area. Additionally, DEAS Asset Management is responsible for assessing the technical and economic feasibility of the plans and managing the sale of plots once they are zoned.

Planned as an urban area rooted in history

Spanning nearly the same size as the current Tikkurila city center, the Color Factory Area is situated close to park areas, and the banks of the Keravanjoki river. It enjoys close proximity to the existing center of Tikkurila and is positioned along the future tram route in Vantaa.

The Color Factory Area will become an urban area with a distinct multi-layered history and a riverside landscape.

"The Color Factory Area will be exceptional on a national scale since there is no other place in Finland that combines industrial history, modern living and working, and a striking riverside landscape with rapids like this," says Johanna Saarivuo, Head of Property Development at DEAS Asset Management.

Homes, jobs, and services

The zoning plan aims to enable various functions in the area, including housing, workplaces, a parking facility, shops, and a daycare center. The goal is to revitalize the riverside, creating an attractive recreational area.

"The aim of the zoning amendments is to respect the area's history. Nature, cultural heritage, and industrial history provide excellent foundations for designing a diverse area with a rich environment. The area seamlessly expands the existing center of Tikkurila," says Marjaana Yläjääski, Head of City Planning Team of Tikkurila at the City of Vantaa.

PPG Tikkurila's production will continue in the existing factories in their current locations, while the long-term plans of the corporation are being further refined.

For further information

Jari Lassila
Project Director
PPG Tikkurila
jlassila@ppg.com
+358 40 526 0685

Marjaana Yläjääski
Head of City Planning Team of Tikkurila
City of Vantaa
marjaana.ylajaaski@vantaa.fi
+358 40 591 3878

Johanna Saarivuo
Head of Asset Management Finland
DEAS Asset Management
JOSA@deas-asset.com
+358 50 366 9152