Pääskylänrinne 8 was completed in 1949. Originally in industrial use, the building was converted into offices in the 1990s.
Ailecon began to review the development opportunities of the property in 2008, and the former office building was converted into a residential building as a result. 79 rental homes were implemented in the building, the cold attic was converted into a residential floor and common premises for the property were built on the ground floor. The parking facilities for the property could be placed in the parking hall of the adjacent building.
Challenges of the project included structural repairs of the building made of poor-quality materials of the late 1940s and preparing the plans required for the repairs. Negotiations with the authorities made it possible to implement the nine-storey residential building implemented with a single staircase and without building an air raid shelter.
Ailecon was in charge of the project’s feasibility study, creating the property concept, investment calculations and committing the investor to the site, taking care of the property acquisition negotiations and applying for ARA intermediate-model interest-support loan as well as the tasks required for the LEED certification. Together with the architect, Ailecon took care of applying for a building permit for the project as well as the required negotiations with the authorities. During the planning and construction phase, Ailecon represented the owner of the property, being in charge of construction consulting and finances.