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Finnish Modular Apartments are Rent to Own

finland_modulars_credit_mikko_auerniitty__arch_dailyThe first section of a solid wood, eight-story modular apartment building has been completed in Puukuokka, Finland, offering affordable eco-friendly housing with some extruded balconies and some recessed, and windows stretching from floor to ceiling, giving a sense of openness and light to the units.

Made of larch wood, the cross laminated timber (CLT) is lightweight but strong, provides a vapor barrier and some Finland_modular--mikko_auernity__in_arch_daily__creditheat insulation, and requires fewer joints and less material than in conventional wood building. As archdaily tells MHProNews, on the side facing the street the wood is painted, but left untreated on the courtyard side.

Before occupancy, the sales price is agreed upon, and the future owner pays a seven percent down payment. The remainder is covered by a state-guaranteed bank loan. After renting the apartment for 20 years, the occupant becomes the owner. When completed, the complex will have 150 modular apartments. ##

(Photo credit: archdaily/Mikko Auerniitty–modular apartments in Finland)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

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