Tokyu plans luxury apartments for Niseko

Niseko Tokyu Resort, part of the Tokyu Group and operator of the Niseku Mt. Resort Grand Hirafu ski resort, will be developing a luxury condominium near the ski field.

Construction is scheduled to begin in July, with completion expected at the end of 2016.

Over the years a number of foreign developers have been steadily building smaller condominiums in the Niseko Hirafu area, but this will be the first project in 20 years that can accommodate over 300 residents.

The six storey building will have a total floor area of approximately 10,000 sqm. There will be 85 apartments, including large apartments over 200 sqm. Prices will range from tens ~ several hundred million Yen. Apartment owners can entrust their property over to Tokyu to be rented out to hotel guests.

The project is being carried out in a joint venture with Sapporo-based real estate investment company Marumi and is expected to cost several billion Yen.

The location of the planned apartments appears to be near The Vale Niseko hotel/condominium which has easy access to ski lifts.

Source: The Hokkaido Shimbun, January 15, 2015.

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