Kyushu Electric Power Co., Inc. (Kyuden), through its U.S.-based subsidiary Kyuden Urban Development America, LLC, is to participate in a multi-family rental housing development project in Durham, North Carolina, U.S. This will be the ninth overseas real estate development project that Kyuden has participated in.

This project involves the development of a six-story, wood-frame hybrid multi-family rental housing complex with a total of 400 units, in partnership with Crescent Communities, LLC, a U.S. subsidiary of Sumitomo Forestry Co., Ltd., and NEC Capital Solutions America, INC., a U.S. subsidiary of NEC Capital Solutions Limited.

Durham, known as the "Research Triangle," is a growing research area that hosts some of the nation's top universities and corporate research and development centers. This area is experiencing population and employment growth, leading to increased demand for rental housing. This property is located near downtown Durham, with excellent access to interstate highways. There are many commercial facilities within walking distance, providing excellent living convenience.

Additionally, the property will obtain environmental certifications and visualize CO₂ emissions throughout the building's lifecycle, contributing to the realization of a decarbonized society.

Under the “Kyuden Group Management Plan 2030,” which establishes a target for consolidated ordinary income of 150 billion JPY in 2030 (of which 50% is to be from sectors outside the domestic electric power industry), the Kyuden Group will expand the business areas in which it participates and continue to proactively take initiatives in urban and community development.

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