CityCen was a research project that developed models for the implementation of large urban development sites through cooperation between the public and private sectors. In other words, the project focused on hybrid real estate development projects.
The project ran for about two years from November 2023 to January 2026.
Background
Hybrid real estate development projects face major obstacles. They are usually implemented by large cities and are therefore large in scale. For example, schedules may be extended, costs may be excessive, and developers may feel that such a project isn't profitable.
Because hybrid real estate development projects are long-term and involve complex contracts, they are risky. At CityCen, we aim to address these risks through more sophisticated delivery models.
Goal
Our goal was to develop delivery models for large hybrid property development projects. This includes the contractual and financial agreements as well as the cooperation models of the participants.
Impact of CityCen
The project brought together action networks and tools to implement hybrid real estate development projects. We provided relevant and practical research knowledge, and always communicated actively about our project. It also helps that the field of study was relevant to the cities and organisations working with hybrid real estate development projects.
Cooperation partners
AFRY Ark Studio
City of Helsinki
Kiinteistönomistajat ja rakennuttajat Rakli ry
KPMG Oy Ab
City of Lahti
Metropolitan Area Transport Ltd
NCC Property Development Ltd
City of Oulu
Skanska CDF Ltd
Talonrakennusteollisuus ry
City of Turku
City of Vantaa