PARCO Enters Residential Real Estate Business
April 7, 2022
PARCO CO., LTD.
PARCO CO., Ltd. (“PARCO”) hereby announces it has decided to enter the residential real estate business, collaborating with business partners on the development of three rental and condominium projects, in order to make effective use of real estate owned by J. Front Retailing Group (“JFR Group”) and expand its real estate portfolio.
PARCO will play a central role in JFR Group’s Development Strategy, one of the key strategies from JFR Group’s Medium-term Business Plan, and will develop real estate for a variety of uses not limited to commercial, to enable lifestyles rich in spirit and to promote urban development in harmony with the community.
1. (Provisional Name) Chiyoda, Naka-ku, Nagoya City Rental Apartment Project
PARCO will develop rental apartments on land owned by PARCO in Nagoya City, taking advantage of its convenient location with easy access to the city center and adjacence to supermarkets.
A total of 205 units with a wide variety of floor plans (1K, 1LDK, 2LDK, and 3LDK) are planned, suitable for a broad range of target households ranging from single occupants based in the city center to families. Additionally, the first floor will house a coworking space with a lounge and private booths for resident use, providing an enhanced communal environment that accommodates an array of work styles.
■Project Outline
| Location | 4-1-15 Chiyoda, Naka-ku, Nagoya City, Aichi Prefecture |
| Access | 9-minute walk from Higashi Betsuin Station on the Nagoya Municipal Subway Meijo Line |
| Structure/Scale | Reinforced concrete, 12 stories above ground |
| Lot Area / Total Floor Area | 2,002.36m² / 11,457.19m² |
| Total Number of Units / Non-Communal Area | 205 Units (1K: 80 units; 1LDK: 40 Units; 2LDK: 42 Units; 3LDK: 43 Units) / 28.5-69.0m² |
| Rent | Undecided |
| Move In Date | Scheduled for September 2023 |
| Business Owner | PARCO CO., LTD. (Real Estate License Number: Governor of Tokyo (12) No. 31059) |
| Design Supervision / Construction | HASEKO Corporation |
| Management | HASEKO LIVENET, Inc. |
| Transaction Term | Lessor |
| Additional Details | Comprehensive home insurance required |
2. (Provisional Name) Naka-ku, Yokohama Rental Apartment Project
PARCO will develop rental apartments as an effective use of the former Yokohama Matsuzakaya office parking lot owned by PARCO, taking advantage of its convenient location, a 3-minute walk from Kannai Station and adjacent to Cattleya Plaza ISEZAKI, a shopping mall operated by PARCO.
A total of 160 units of three types (1K, 1DK, 1LDK) with ample space are planned, targeting corporations that utilize company housing, singles, and dual income households without kids. Shared corridors are located in the interior to assure privacy and units are equipped with a mounted desk that can be used for remote work. In addition, so that the area can serve as a disaster shelter and base for disaster prevention for apartment residents and local residents and contribute to local disaster prevention, it will be equipped with water wells to be used in emergencies, benches that can transform into outdoor cooking units and emergency-use manhole toilets.
■Project Outline
| Location | 2-1 Higashidori, Fukutomi-cho, Naka-ku, Yokohama City, Kanagawa Prefecture (Lot Number) |
| Access | 3-minute walk from Yokohama Municipal Subway Kannai Station |
| Structure/Scale | Reinforced concrete, 10 stories above ground, self-park parking garage on first and second floors |
| Lot Area / Total Floor Area | 1,882.22m² / 8,801.88m² |
| Total Number of Units / Non-communal Area | 160 Units (1K: 56 units, 1DK: 40 units, 1LDK: 64 units) / 29.19-39.31m² |
| Rent | Undecided |
| Move In Date | Scheduled for August 2023 |
| Business Owner | PARCO CO., LTD. (Real Estate License Number: Governor of Tokyo (12) No. 31059) |
| Design Supervision / Construction | SEIWA-CORPORATION |
| Management | Seiwa-fudosan-hosho. ltd. |
| Transaction Term | Lessor |
| Additional Details | Comprehensive home insurance required |
3. Condominium Project
PARCO will develop condominiums on land owned by PARCO in partnership with Mitsui Fudosan Residential Co., Ltd.
The building is planned to be a high-grade urban residential condominium located in a quiet residential area within walking distance of the central commercial and business district, taking advantage of the highly convenient transportation and living environment. The project outline and other details will be disclosed on the relevant property's website and PARCO’s website after the building’s certificate of confirmation is issued.
*The information and images shown in this document reflect current plans and images, are for illustrative purposes only and may differ from the actual properties.
*Any contract or offer of reservation cannot be accepted until after this announcement has been made and relevant transactions have commenced. No measures may be undertaken to ensure precedence in the application process. We appreciate your understanding.
<Contact for Inquiries>
PARCO CO., LTD. Public Relations Department
+81-3-3477-5710
8-16 Shinsen-cho, Shibuya-ku, Tokyo
Contact Form: https://www.dpcity.com/forms/parco/inquiry/en/