Friday, 7 March 2008

Where the Finnish Tax Payer Money goes ...

"City of Helsinki plans to revamp entire South Harbour area"

"In order to bring the old city centre back to life, the City of Helsinki intends to revamp the South Harbour area completely."

"According to a plan commissioned by the City, the old Olympia Terminal, the adjoining terminal areas, and the adjacent large parking area would all be covered with a green deck. "

The redevelopment of the area will cost a huge sum of money, but the plan is feasible, as it will give the City more land that can be developed and sold”, estimated Mikael Nordqvist, the head of the Helsinki Real Estate Department.

Most probably it's a rescue plan or bail out to construction company that have heavily invested in constructing very high price apartment in the eira zone.

Housing is unaffordable, rent inflation start their spiraling trend upward and then...the government through the city of Helsinki is building unnecessary site that will require vast amout of money... Are they living in another planet? Pluton? or are they completely unaware of the problems?

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