Innovation Properties and Barings Mark Construction Milestone at Project Haven Multifamily Development in Åkersberga
Innovation Properties and Barings marked a construction milestone at Project Haven on Sept. 29, hosting Österåker Municipality's city architect and head of building permits for a site walkthrough and ceremonial groundbreaking for the project's upcoming phases in Åkersberga, Sweden.
The event brought together Innovation Properties, Barings, the project contractor and several other key stakeholders for a tour of ongoing production before the ceremonial first shovels were turned for the next stages of the development.
Project Haven: Development Overview
Project Haven is a purpose-built multifamily development comprising 262 apartments across nine buildings in central Åkersberga, located within Österåker Municipality in Greater Stockholm. The project totals approximately 12,500 square meters — roughly 134,500 square feet — with average unit sizes of approximately 47.7 square meters, or about 513 square feet.
The site, situated approximately 850 meters from Åkersberga's commuter rail station, replaces former light-industrial buildings. The station offers a commute of approximately 35 minutes to central Stockholm, positioning the project within the broader metropolitan commuter belt roughly 30 kilometers north of the city center.
Barings acquired the project off-market on behalf of a U.S. insurance company, with approvals already in place at the time of acquisition. Innovation Properties serves as project manager, providing local development execution capacity for the institutional capital deployment. Phased delivery is planned from mid-2027 through mid-2028.
Groundbreaking Ceremony and Municipal Coordination
The September gathering centered on discussions of architecture, sustainability and the priorities shared by both the municipality and residential developers working on projects of this type, according to Innovation Properties. The firm described the day as an opportunity to align on those themes with municipal officials before construction advances into subsequent phases.
The involvement of Österåker Municipality's city architect and head of building permits reflects the coordination required as the project moves through its phased construction program, with production already underway on earlier stages at the time of the ceremony.
Innovation Properties' Expanding Pipeline
Project Haven represents a significant component of Innovation Properties' active development program. The company confirmed that 262 environmentally certified homes are taking shape in central Åkersberga as part of the project. In a July 2026 update, Innovation Properties raised its forecast for homes in production during the year from 870 to 1,180 units, reflecting progress across several concurrent projects.
Separately, Innovation Properties announced in September 2026 the acquisition of building rights in Nacka for the development of 21 homes in Gustavsvik, encompassing approximately 3,000 square meters of building rights, further extending the company's presence in the Greater Stockholm region.
Swedish Residential Market Context
Project Haven is advancing as Sweden's residential investment market has strengthened. Swedish residential transactions totaled SEK 49 billion in 2025, a 26% increase from the prior year. In the first half of 2026, total Swedish real estate transaction volume reached SEK 120.5 billion, up 60% year over year, with residential assets accounting for SEK 30.3 billion, or 25% of the total.
New supply in Sweden's largest metropolitan areas remains constrained. Approximately 4,600 multifamily apartments started construction in the fourth quarter of 2025 across Sweden's three largest metro areas, and national multifamily housing starts are projected at roughly 22,000 units in 2026 and 27,100 in 2027 — levels below earlier forecasts. Prime yields for newly developed residential properties in Stockholm were reported at approximately 3.75% to 3.85% during 2026, reflecting compression from the prior year as investor demand has recovered.
Against that backdrop, Project Haven adds purpose-built rental housing in a commuter-accessible suburban location, backed by long-term institutional capital through Barings' U.S. insurance-company mandate.
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