Kyushu Electric Power Co., Inc. (Kyuden), through its U.S.-based subsidiary Kyuden Urban Development America, LLC, will invest in a multi-family rental housing development project in Miami, Florida.

This project involves the development of a seven-story, 269-unit multi-family rental housing structure, in partnership with Diamond Realty Investments, Inc. (DRI), a U.S. subsidiary of Mitsubishi Corporation, and U.S. developer Trammell Crow Residential.

The Miami metropolitan area, known for its warm climate, is a popular residential area and a growing city with a concentration of financial and technology companies. As a result, the population and employment are increasing, leading to a high demand for rental housing.

The housing under development is conveniently located near an expressway, providing good access to Miami International Airport and downtown Miami. The surrounding area also features shopping malls, hospitals, schools, and other facilities, making life exceptionally convenient.

Under the “Kyuden Group Management Plan 2030,” which aims for a consolidated ordinary income of 150 billion JPY by 2030 (with 50% coming from sectors outside the domestic electric power industry), the Kyuden Group will expand its business areas and continue to proactively engage in urban and community development.

Image of completed development

Project outline