News
Press release
2026.03.27
JOIN Supports Urban Development Project in Charlotte, USA
Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (“JOIN”, headquartered in Tokyo, President & CEO: Tatsuhiko Takesada) has decided to invest up to approximately JPY 2.2 billion to participate in the urban development project (“ Declan Research Park”) in Charlotte, North Carolina, USA., together with Flournoy Development Group, LLC (“FDG”, headquartered in Georgia, President & CEO: Blake Breimann), a wholly owned subsidiary of Kajima Corporation’s(“Kajima”, headquartered in Tokyo, President: Yoshikazu Oshimi) U.S. subsidiary, and Keihanshin Building Co., Ltd. (“Keihanshin Building”, headquartered in Osaka, President: Tsuneo Wakabayashi). The investment decision was approved by the Minister of Land, Infrastructure, Transport and Tourism of Japan on November 28, 2025. This announcement is being made today as the parties involved have reached an agreement regarding the implementation of the project and the related investment.
The Project is an urban development initiative in Charlotte, North Carolina, involving the ownership, and operation of a wood frame structure multifamily apartment community. JOIN’s participation will support the first full-scale entry of Japanese companies into the U.S. residential development market and further accelerate the expansion of their business activities.
The Project will leverage the expertise, technologies, and know-how that Japanese companies have developed in both Japan and the U.S. – particularly in fields such as town management and property management. By creating a community that is well aligned with local needs and emphasizes compatibility and unity, Declan Research Park aims to generate long-term value, contribute to regional economic revitalization, and enhance the attractiveness of the surrounding area. Furthermore, the Project is scheduled to obtain Bronze certification under the National Green Building Standard (NGBS), thereby contributing to the broader adoption of environmentally friendly housing in the U.S.
Charlotte has experienced increased housing demand driven by steady economic growth and rapid population growth. Local policy in the University Research Park area prioritizes sustainable, mixed‑use community development. The Project will help meet this growing demand while contributing to regional revitalization and sustained economic growth.
This initiative aligns with Japan’s “Infrastructure System Overseas Promotion Strategy 2030” (approved by the Infrastructure Strategy Council on December 24, 2024), particularly the vision of “responding to partner countries’ needs and contributing to the achievement of SDGs,” with a focus on Goal 8 (“Economic Growth”) and Goal 11 (“Sustainable Cities and Communities”).