Imatran Rental Apartments Oy is investigating the demolition of the third building 

Imatran Rental Apartments Oy is considering adding a third building to its 2026 demolition program. 

The City Council is processing the request for corporate governance submitted by Rental Apartments on Monday 2.2.  

The Board of Directors is requested to approve the company's request to demolish the third property. However, the demolition of the third property must be included in the demolition grant of EUR 1,0 million already granted to the company. Therefore, no additional funding is required. 

The rental housing company will decide on the demolition of the third site after receiving a preliminary opinion from the city. A decision on which building would potentially end up being demolished has not yet been made. 

—The company will decide on the demolition site after receiving a preliminary opinion from the city council. Once the site is known, the building's residents will be informed first and in good time, CEO Erik Fosten says. 

Bites are part of the adaptation program 

Imatran Rental Apartments Ltd launched an adaptation program a year agoIn practice, adaptation means giving up buildings, either by demolishing them or selling them. 

In 2025, the company launched demolition of two properties, and for this year, the demolition decision has already been made earlier by two apartment buildings. 

The company, which is in financial difficulties, is also applying for capitalization from the city. The capitalization requirement will be discussed by the city board and council later this spring. 

For more information: 

Group Finance Manager Marko Pollari, City of Imatra, marko. pollariimatra.fi (marko[dot]pollari[at]imatra[dot]fi), tel. 020 617 2268 

CEO Erik Forstén, Imatran Rental Apartments Ltd,  erik.forstenimatra.fi (erik[dot]forsten[at]imatra[dot]fi), tel. 020 617 1050