Riihimäki invests nearly 11 million euros before homes are built
Wednesday 11th November 2026 on 10:01 in
Finland
Riihimäki has spent nearly 11 million euros preparing the Jokipuisto residential district, even though no homes have yet been built there, Yle reports. The city plans to offer the first plots to developers in early 2027.
The district, near the railway station, is planned to include about 500 homes. Riihimäki expects plot sales to bring in around 2.5 million euros between 2027 and 2029. The city estimates construction will take about 10 years.
Nearly 7 million euros of the investment went towards moving the Vantaanjoki river channel, a new stormwater pumping station, bridges, a square and a park. The river was redirected in August 2025, and the municipal infrastructure and park were completed in autumn 2026.
A plot allocation competition held about two years ago did not attract a successful bid, but the city says it has since received inquiries about the plots. The future homes around the river are planned to range from two to seven storeys.
Housing construction remains weak outside Finland’s largest cities, according to Jouni Vihmo, chief economist at the industry group Rakennusteollisuus. He cited urbanisation, a weak construction market and cuts to state support for building. Investors and construction companies are concentrating their activity geographically, he said, with building expected to recover first in the largest growth centres.
Riihimäki’s finance director, Pekka Karvonen, said the city does not attribute its current financial difficulties to the Jokipuisto investment. He pointed instead to declining income and state transfers, as well as the employment situation. He added that the impact of investments on municipal operating costs must be considered as part of the city’s overall finances.
The project took shape over several years. The district was included in the city’s master plan in 2017, and the city council approved a new detailed plan in 2023. Riihimäki later withdrew from hosting a planned 2027 housing fair, and construction of the district’s infrastructure began in 2025.