YIT Corporation Press Release April 30, 2026, at 11:25 a.m.
YIT and Lappeenranta Student Housing Foundation (LOAS) have agreed on the construction of student apartments with long-term interest-rate subsidies under a design-build contract (KVR) in Kesämäki, Lappeenranta. The project includes the construction of three five-story apartment buildings and their yard areas. The total value of the contract for YIT is approximately EUR 20 million.
The scope of the contract is approximately 7,800 square meters of floor space, and the project will have 195 apartments, studios and two-room apartments as well as shared spaces. The apartments will be used by young people studying in Lappeenranta who have recently moved out on their own.
The apartments to be contracted to LOAS are part of the Kesämäki area project, the zoning of which has now gained legal force. At the same time, the project launches the second phase of the Kesämäki area, which continues the colorful previously built residential area. Construction is estimated to begin in June 2026, when the project has received a building permit and the project is expected to be completed in July 2027.
"The significant growth of Lappeenranta's higher education institutions increases the need for study apartments. I am very happy that we are getting a significant number of new apartments with this project. The location between the railway station and significant commercial services brings a new kind of housing option for Lappeenranta students," says Joonas Grönlund, Executive Director of LOAS.
"It's great to be able to continue the development of the Kesämäki area with this project. The construction of three new apartment buildings will bring continuity and much-needed vitality to the zoned area of Kesämäki and respond to the increased need for student housing in Lappeenranta. We would like to thank LOAS for the excellent cooperation - together, we will ensure that students will have modern and comfortable homes in Lappeenranta," says Area Manager Jussi Koskela, from YIT.
Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi
Joonas Grönlund, Executive Director, Lappeenranta Student Housing Foundation LOAS, tel. +358 400 69 9984, joonas.gronlund@loas.fi
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