Hippos project in Jyväskylä moves forward with financing agreement

The long-awaited Hippos project in Jyväskylä has taken a significant step forward following an agreement on financing and company structure. The city of Jyväskylä announced this development on Thursday evening. The project, which includes a sports center costing approximately €70 million and an ice sports center at €75 million, will be financed through a 20-year leasing agreement. After this period, the city will acquire the properties at a pre-agreed residual value.

The costs of the project have risen over the years, now requiring the city to allocate between €1.5 million and €3 million per year more than originally estimated for the facilities. Additionally, the city is required to invest a total of €23 million into the area in 2026 and 2027. Overall, the Hippos complex is projected to exceed €211 million in total expenditure. Private funders will oversee the office and retail spaces.

By 2027, approximately 33,000 square meters of new sports facilities will be constructed in the area, with a specialized center covering over 17,000 square meters. Nearly a thousand parking spaces will also be created. A baseball stadium was completed last year, and a water sports center is expected to be finished by the end of this year.

The city council is set to decide on the new model on September 30. If approved, construction work could commence later this year.