The development of the Ivo area is progressing

Next Tuesday, Imatra's urban development board will discuss the agreement related to the development of the Ivo area. According to the proposal, Ivonranta Ky., which is under construction, would be chosen as a partner for the development of the area.

The company's responsible partner will be a subsidiary of Lappeenrantan Lämpötalo Oy, and the silent partner will be the owner of the company Vesa Venäläinen.

The agreement being made now applies to the Ekegren area and Insinööritalo, which the city bought in December 2022 from Fortum along with the land. Ekegren's houses are protected.

The city has identified a partner for the development of the Ivo area in connection with the preparation of the real estate transaction.

- There has been varying interest in the buildings, but the interest has mainly focused only on individual buildings, the mayor Matias Hilden says.

Margin on the purchase price of buildings for land deals

The presentation to be decided on the development of the area includes the buildings' sale deeds, project-time land lease agreements, land lease agreements to be concluded with the end users of the buildings, and the project agreement.

The total purchase price of the buildings to be handed over would be 80 euros, which Ivonranta Ky will pay to the city at once. The amount would cover about 000 percent of the first transaction sum paid by the city to Fortum last year.

With the final amount to be paid later this year, the city will redeem the Ervi area from Fortum.

The land remains with the city, which rents or sells them to those who bought the renovated houses.

The annual plot rent would be five percent of the plots' value. The transfer price for the plots in the Ekegren residential area has been set at 30 euros per house, and 000 euros for the Insinööritalo plot.

The total value of the contract to the city would be 365 euros when fully implemented.

- It should be noted, however, that the obligation to rent land only starts with the renovation and handover of the buildings, and the handover schedule depends on the demand for apartments, Hilden emphasizes.

Obligation for the city to build local sports facilities

According to the draft contract, the Ivonranta company would have the obligation to renovate at least one apartment every calendar year to be ready for handover.

The most significant responsibilities of the city would be the implementation of municipal technology in the area, as well as the padel court, children's playground and local exercise area to be built in the vicinity of the current tennis court, which are available to all Imatra residents. These should be implemented no later than summer 2024.

After the urban development board, the draft contract is transferred to the city board for decision.

In addition to the plots it has purchased in the area, the city also owns undeveloped detached house plots and townhouse plots.

For more information:

Mayor Matias Hilden, tel. 020 617 2200, matias.hildenimatra.fi (matias[dot]hilden[at]imatra[dot]fi)