"Enlighten Our Future"
KYUDEN GROUP’s Mission is to contribute toward
the realization of a comfortable and environment-friendly lifestyle
today and for generations to come.
September 3, 2024
Kyushu Electric Power Co., Inc.
Kyushu Electric Power Co., Inc. to Participate in Multi-Family Rental Housing Development
Project in Miami, U.S.
– The Company’s Seventh Overseas Real Estate Development Project –
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
Item Description
Location Miami, Florida, U.S.
Structure/stories Reinforced concrete structure, 7 stories
Site area Approx. 8,500m2
Total number of units 269 units
Construction period
Commencement: August 2022
Planned completion: February 2025
U.S. subsidiary
Kyuden Urban Development America, LLC
Location: New Castle, Delaware
Established: November 1, 2019
Partners
Diamond Realty Investments, Inc.
Location: Dallas, Texas
Description of business: Real estate investment
Trammell Crow Residential
Location: Dallas, Texas
Description of business: Real estate development