New residential developments approved for Verkkosaari in Helsingin Kalasatama

New residential developments are planned for the northern part of Verkkosaari in Helsingin Kalasatama, accommodating between 500 and 750 residents. On Wednesday, the city council approved a preliminary agreement that enables the sale of the land to the project company NSF V Fin NewCo 10 Oy, with the purchase price exceeding €32 million.

Tuomas Hakala, project manager for Kalasatama, describes the land sale as substantial and significant for the entire development of Kalasatama. “Construction is expected to begin in the fall of 2026,” Hakala stated. The total projected number of residents for the northern area of Verkkosaari is around 3,600.

Hakala explained that the conditions of the land sale require the construction of privately funded ownership and rental apartments, with rental units limited to a maximum of 50% of the residential building rights on the property. Additionally, commercial spaces will also be developed on the site.

The land designated for housing is situated right by the waterfront in the northern part of Verkkosaari. Plans include floating apartments and a marine swimming facility just south of the site. Furthermore, a marina is intended to be constructed to the north of the available land, according to Hakala.

Overall, over 30,000 new housing units are expected to be completed in the entire Kalasatama area by the end of 2040.

Major cities express concern over stricter environmental regulations proposed by the EU. Ilona Mansikka, planning director of the Uusimaa Federation, noted that this could significantly hinder the development of new residential areas like Helsinki’s Kruunuvuorenranta. New green space requirements would also impact Helsinki, Espoo, and Vantaa, which are already facing housing shortages.