On October 23rd, Mitsui Fudosan Residential along with nine major developers unveiled the Port Village rental district within the large-scale mixed-use development known as Harumi Flag in Chuo ward, Tokyo.
Key Takeaways:
Port Village includes long term rental units, shared housing, senior living and care residences across 1,258 units total.
The long term rent per tsubo is ¥13,000 (¥3,933 per square metre).
Included in the rental buildings are publicly accessible baths along with resident only features such as party and theatre rooms amongst other amenities.
According to the developer conglomerate, over 1,500 inquiries were received in just over two months after applications opened on August 29th, with the first phase of 160 units attracting over 100 applications.
Courtesy of the Port Village website.
The Port Village district is situated approximately 14 to 16 minutes' walk from the Toei Subway Oedo Line's Kachidoki station. The complex comprises four reinforced concrete buildings, each standing 15 to 17 stories tall.
Courtesy of the Port Village website.
Additionally, there are two mezzanine units at 159 and 171 square metres each. The development also includes 158 senior residences, 50 care units, and 71 shared-housing units with 114 rentable rooms.
A 7,000-square-metre central courtyard is situated at the centre of the four buildings, intended to serve as a hub for community interaction among residents and visitors. Each building is equipped with shared facilities such as a large communal bath, fitness room, theatre room, workspace, event space, and a party room, which are freely accessible to the rental housing occupants (although reservations may be required for some facilities).
Courtesy of the Port Village website.
The general rental housing targets singles, DINKS (Dual Income, No Kids), small families with young children, and accounts for over 70% of the total units, with 1R, 1DK, and 1LDK configurations.
Courtesy of the Port Village website.
The senior residences and care residences are operated by Tokyu E-Life Design, a subsidiary of Tokyu Fudosan Group. Residents have the flexibility to transition from senior residences to care residences based on their physical condition.
The lounge within the facility is open to the local community as a space for neighbourhood gatherings. The childcare facility is operated by Poppins EduCare as a certified childcare facility.
Main entrance hall courtesy of the Port Village website.
Additionally, shared housing is managed by Libita. The company offers individual rooms with a size of 25 square metres (1R) and 4.5-room units equipped with furniture and appliances, sharing common facilities across three floors.
The advertised rent for the units varies, with 28 square metre 1DK units ranging from 112,000 yen and 71 square metre 3LDK units ranging from 295,000 yen. The rent for the mezzanine units has yet to be determined.
Party room CG courtesy of the Port Village website.
The per-tsubo rent is approximately 13,000 yen.
The first phase of applications, which began on September 29th, includes 117 units, with an additional 43 units to be offered in a subsequent round.
Currently, the majority of the interest comes from residents in the local Chuo ward, Minato and Koto wards.
Building tours and contracts are set to begin on October 27th, with occupancy scheduled to commence in late January, 2024.
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