Mitsubishi Estate Residence and Partners Launch Timber-Built Senior Living Project in Setagaya
Mitsubishi Estate Residence, Charm Care Corporation, and Mitsubishi UFJ Trust and Banking have kicked off development of a timber-built, licensed senior living residence, the “(Tentative) Charm Premier Sakurashinmachi,” in Setagaya-ku, Tokyo, breaking ground in September 2025. The mid-to-large-scale facility will offer 62 resident rooms across three above-ground floors, with a Gross Floor Area (GFA) of approximately 1,019 tsubo (approx. 36,259 sq. ft.). Completion is slated for late November 2026, with opening planned for January 2027.
Located a 10-minute walk from Sakurashinmachi Station on the Tokyu Den-en-toshi Line, the project is being developed by Mitsubishi Estate Residence and will be operated by Charm Care Corporation. Despite its timber structure, the property is designed to meet seismic and fire safety standards under applicable regulations; sound insulation within areas affecting resident rooms is engineered to be on par with reinforced-concrete (RC) construction.
By using wood, the building will sequester carbon over the long term; the facility’s timber utilization corresponds to 667.1 t-CO2 in stored carbon—roughly equivalent to the annual CO2 emissions of about 145 average households. While timber buildings historically see limited secondary trading due to depreciation and market conventions, Mitsubishi UFJ Trust and Banking plans to securitize the asset post-completion as trust beneficiary interests, aiming to promote circulation of high-grade timber buildings and broaden investment opportunities.
Key Facts
Property Name: (Tentative) Charm Premier Sakurashinmachi
Developer: Mitsubishi Estate Residence Co., Ltd.／Charm Care Corporation.／Mitsubishi UFJ Trust and Banking Corporation.
Address: Shinmachi 1-chome, Setagaya-ku, Tokyo
Nearest Station: Tokyu Den-en-toshi Line “Sakurashinmachi” Station (10 minutes on foot)
Start of Construction: September 25, 2025
Completion: Late November 2026
Opening: January 2027
Structure: Timber
Number of Floors: 3F
Gross Floor Area: approx. 1,019 tsubo (approx. 36,259 sq. ft.)