In the transition towards a renewable material based bioeconomy in Europe, there is growing interest in wooden multistory construction (WMC) as a sustainable housing solution. In this paper, the changing WMC business, and the involved value networks towards 2030, are analysed based on service business model literature and focusing also on consumer driven models. Methodologically the study uses a three round Delphi process focusing on Finland as a country where national bioeconomy strategy specifically acknowledges wood based construction. Based on our results, supporting bioeconomy strategy with the use of renewable materials and addressing indoor air quality concerns, seem to be primary reasons for the use of wood. This happens instead of enhancing intrinsic motivation towards sustainable bioeconomy as such. Therefore, transforming business models towards sustainability calls for strengthening positive image of wood construction industry especially among largely neglected stakeholder group, residents. In order to achieve business model development, the industry needs to strengthen orchestration of partner networks and capabilities, by including not only new co-creators as a part of actor-to-actor network, but also residents as end-users.