Hankyu Hanshin Properties Acquires Former Chambre Hatagaya Condominium Site for Redevelopment Using Japan’s Condominium Site Sale System

Hankyu Hanshin Properties Corp. acquired the land and building of the former Chambre Hatagaya condominium on December 26, 2025, from the Chambre Hatagaya Condominium Site Sale Association. The transaction utilizes Japan’s Condominium Site Sale System under the Act on Facilitation of Reconstruction of Condominiums. This marks the first project in the Tokyo metropolitan area in which Hankyu Hanshin Properties has applied this system. Demolition work is scheduled to begin in February 2026, with the site to be redeveloped into a 14-story rental apartment building comprising 52 units, slated for completion in February 2029.

The site was formerly occupied by Chambre Hatagaya, a condominium completed in 1978 and located a four-minute walk from Hatagaya Station on the Keio Line. The property was a seven-story, 50-unit for-sale condominium. A seismic assessment conducted in 2014 identified insufficient earthquake resistance. Seismic retrofitting would have required reinforcement within private units, making it difficult to obtain unanimous consent from unit owners. In addition, a rebuild would not have been able to secure sufficient excess floor-area ratio to attract a developer. Against this backdrop, the condominium association opted to utilize the Condominium Site Sale System, which maximizes overall owner value while minimizing the administrative burden on the association.

Key Facts

• Property Name: Chambre Hatagaya

• Location: 1-6-3 Hatagaya, Shibuya-ku, Tokyo

• Nearest Station: Hatagaya Station (Keio Line), 4-minute walk

• Completion: 1978

• Number of Floors: 7F

• Number of Units: 50

• Project Name: Chambre Hatagaya Redevelopment Project

  • Developer: Hankyu Hanshin Properties Corp.

  • Demolition Start: February 2026

  • Completion: February 2029

  • Asset Type: Rental apartment building

  • Number of Floors: 14F

  • Number of Units (Planned): 52