Vantaa secures Havukoski control as Hakunila centre faces demolition

Vantaa has gained a controlling stake in the Havukoski shopping centre, while plans to redevelop the Hakunila centre are moving ahead with its demolition confirmed, Yle reports.

A deal completed two weeks ago raised the city’s ownership of Hakopolun Liikekiinteistö Oy, which owns the Havukoski centre, to 90.33 per cent. That share gives the city near-complete control and the right to buy out minority shareholders at a fair price, though a separate city decision is required to begin the process.

The city says it will first seek to buy the remaining shares voluntarily as it examines development options. The future of the Havukoski building has not been decided: options include keeping it, renovating part of it or demolishing it. Vantaa is also hoping to attract a major commercial operator or outside investor to help advance the project.

Redevelopment discussions for the Hakunila shopping centre have dragged on since the late 1990s, held back by fragmented ownership and differing priorities between the city and property developers. The city, Cibus Nordic Real Estate and Helsinki Cooperative Society Elanto together passed the 90 per cent ownership threshold more than a year ago. They have hired planning consultants and submitted applications to change the local zoning plan.

The Hakunila centre will be demolished. The buildings have no identified historical conservation value, and indoor air problems have contributed to services moving out. Plans call for shops and public services, while the route of the Vantaa tram runs directly past the centre.

Vantaa hopes the redevelopment of both centres will help curb segregation and improve the areas’ reputations. Havukoski and Hakunila are among the city’s most segregated areas, with relatively low levels of education, high unemployment, a higher proportion of residents with foreign backgrounds and many rental and small apartments.