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ÍAV takes on the role of contractor guidance in the construction of more than 650 apartments for Smárabyggð. The area of construction has been named 201 Smári and is located on the south side of Smáralind, Kópavogur. The plot has been divided into 10 separate subplots and at the time of writing, ÍAV has received contracts for 2 of these subplots and has begun construction of 133 apartments split between three apartment buildings, as well as an underground parking structure.

The buildings are constructed using poured concrete and are clad with a smooth and/or almost smooth aluminium cladding as well as cement-fiber boards.

Apartments will be delivered with a fully finished interior and floor material. The first apartments are scheduled to be completed at the end of September, 2018. Apartments will then be delivered with regular intervals throughout the projects lifetime, and along with the projects progress.