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
Notable progress is being made in the planning of the Color Factory Area in Tikkurila, 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
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About
About City of Vantaa
Bold, relaxed, and enjoyable, Vantaa is the emerging innovation city of Europe in 2021. Vantaa has excellent connections to the metropolitan area, the rest of Finland, and the world. Distinctive urban centers offer various housing options. There is an abundance of events, sights, and experiences for both residents of Vantaa and visitors. New activities are constantly emerging around the international airport.
About PPG Tikkurila
PPG Tikkurila was formed in 2021 when Tikkurila merged with PPG. However, our roots trace back to 1862 when Tikkurila was established. From a small oil pressing company, our business grew over time to become a leading Nordic paint industry company. We employ nearly 2,400 people and operate in a total of 10 countries.
About DEAS Group and DEAS Asset Management
DEAS Group is a leading real estate specialist in the Nordics, managing assets on behalf of a broad range of national, Nordic and foreign investors. DEAS Group has 1,000+ real estate professionals and operates from 8 offices across the Nordics. The company is headquartered in Copenhagen.
DEAS Asset Management is part of DEAS Group. With 100+ real estate professionals DEAS Asset Management is a leading investment and asset management company in the Nordics, with more than €7.8bn assets under management (AuM) and covering 400 properties across four countries.
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