(To read more on the multifamily market, click here.)
TOKYO-Grosvenor of San Francisco broke ground this week for itsfirst development in Japan, a six-story, 45-unit luxury apartmentdevelopment adjacent in Downtown Tokyo. The development will riseadjacent to Yoyogi Park, Tokyo's equivalent of Central Park in NewYork City.
Apartments in the building will range in size from 1,600 sf to3,800 sf and each will enjoy views of the park, which was one ofthe sporting venues for the 1964 Olympics. The location is one milefrom the Shibuya and Omotesando shopping districts. The cost of theredevelopment was not released by the parties involved; industrysources tell GlobeSt.com the total development cost isapproximately $60 million.
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