On the 24th, the Ministry of Land, Infrastructure, Transport and Tourism announced the first selected projects under the “Reiwa 7 Condominium Stock Longevity Model Project.” This initiative aims to promote proper maintenance, renovation, and reconstruction in response to the anticipated rapid increase in aging condominiums. The ministry will support highly innovative condominium revitalization projects.
There are two types of applications open to the public:
The “Leading Revitalization Model Type,” which introduces new construction methods, materials, and functions to extend the lifespan of condominiums.
The “Management Optimization Model Type,” where condominiums with low management standards collaborate with local governments to improve management practices.
For the selected projects, both “planning support” and “construction support” will be provided during the pre-project start-up phase.
A total of six applications were received from six applicants, and four projects from four applicants were selected. The chosen projects include two “Leading Revitalization Model Type” projects receiving “Planning Support” (“Higashimurayama Fujimicho Housing” and “Chambord Mita”), one “Planning Support” project (“Grace Heights Yutenji”), and one “Renovation Work Support” project (“Serenity Yushima”).
Reprinted from: Real Estate Distribution Research Institute Co., Ltd.
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