Tapiola metro station and Länsimetro metro line extension energize the surrounding business environment and enhance value creation

Tapiola metro station and Länsimetro metro line extension energize the surrounding business environment and enhance value creation

The ongoing reform of the Tapiola commercial center is the result of a development project that started several years ago, and has included extensive planning efforts involving multiple commercial and public stakeholders. The 2006 decision to extend the Helsinki metro line through Tapiola has been the most significant driving force behind the reform.

Results

The study examined value creation in the context of the upcoming Tapiola metro station from the perspective of value creation and stakeholder theory. The purpose of this study was to uncover the effect of the new Tapiola metro station and Länsimetro line extension on the surrounding business environment, and derived value creation. In particular, the study focused on how the various commercial and public stakeholders see the importance of the 2006 decision to extend the metro line, and its effects on their business opportunities in the region.

All of the interviewed 14 stakeholders described the metro extension as a critical decision for the future of the entire Tapiola region as without it, the development of the Tapiola center would not have realized in its current scale. More specifically, real estate investors would not have been able to invest in the development of the region and several commercial actors would have located their business elsewhere. As a whole, investments to develop the commercial attractiveness of Tapiola would have been modest.

Effects

The study visualizes the Tapiola metro station stakeholder network and identifies several distinct value factors attached to the ongoing project. Based on an analysis of these factors, it can be argued that the effect of the metro project to the Tapiola region, and to Southern Espoo as a whole, is significant. The Länsimetro line extension enables long-term urban development, motivates more efficient land use, and creates an economic-boost for all metro station areas. Investments to the metro line will bring revenue for decades and benefits will be realized for all operators, not only for metro users. Actors that benefit from the new metro station in Tapiola include operators of commercial facilities, local residents, commercial actors, and actors in the field of culture.

tapiola

Future Opportunities

In light of this new knowledge, the stakeholder views of metro line and metro station development in a global context could be studied and compared to the Länsimetro case. It would be of interest to learn how new metro lines and station areas are developed globally. What are the main investment criteria for making new investments or location decisions internationally? How do different metro stations in large metropolises create value for different operators, and consequently enhance future development possibilities?

RYM Program

Energizing Urban Ecosystems (EUE)

Participants

LähiTapiola

Aalto University

University of Oulu

Contact Person

More info

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