The building in question is the former Lahden Vanhusten Asuntosäätiö (Housing Foundation for Elderly People of Lahti) house, which has been empty since the beginning of 2016 and was sold to Varte by the foundation, as they no longer had any use for it. Lahden Talot assessed the real estate to be in such good condition that the apartments would be suitable for student use with slight modifications.
Varte is currently carrying out surface renovation work in the apartments, which entails painting the walls, renovating the kitchens and installing laminate flooring, among other things.
Changing the intended use expands the life cycle
Changing the intended use of the house in accordance with supply and demand is a rising trend in the real estate business. It is also a part of the life cycle thinking that Lahden Talot emphasises in its activities.
“Even though the real estate on Kivakatu 2 does not meet the current requirements for elderly people’s housing, it is well-suited for students,” says Juhani Jokelainen, CEO of Lahden Talot.
There are five storeys on the Kivakatu 2 house. 40 of the apartments are 25 m2 studio apartments and ten of them are 36 m2 two-room apartments. Jokelainen considers the good location and the view to Lake Vesijärvi from the upper stories to be positive aspects of the apartments.
After the lease agreement between Lahden Talot and Varte expires in the future, the house will be demolished and Varte will build two new apartment buildings in its place, one of which will be used by the Lahden Talot group. The house will be of high quality, energy efficient and reasonably priced.