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August 10, 2020

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Developer gets creative as rental apartment project greets tenants

Gui Weilin, a Shanghai native who owns a property in downtown Xuhui District, moved into a newly released rental apartment project in Yangpu District on Saturday.

She used to spend more than two hours a day commuting between her home in Tianlin community and workplace in Xinjiangwan Town. The rental apartment is a 15-minute ride by bike from her company.

She has rented out her apartment in Xuhui, and only needs to pay a difference of 3,000 yuan (US$429) to live in the 90-square-meter new rental.

“I can get up at 8:30am every day, an hour-and-half later than usual,” Gui said. “It is definitely a good deal for me and my husband.”

The first group of about 700 tenants, like Gui mainly teachers from Fudan University, moved into the first rental apartment project of Shanghai Chengtou Group, in Yangpu, over the weekend.

The 852 Creative Apartment units in four buildings in Xinjiangwan Town aim to meet the accommodation needs of young talented people working in nearby areas.

It is part of the city government’s efforts to create a new housing system which places equal importance on sale and leasing to benefit young talent from outside of Shanghai as well as local people who cannot afford a home of their own.

“Shanghai Chengtou has secured around 15,000 rental units in six major communities in Yangpu and Minhang districts as well as the Pudong New Area, which will be completed by 2022 to cater for the demands of high-end professionals,” said Zhou Hao, vice president of the group.

The first batch of rental units in Yangpu’s Bay Valley, adjacent to the Jiangwan Campus of Fudan University, features several compact layouts, with one-bedroom units accounting for more than 70 percent.

There are also larger units catering to family tenants, with a size of around 70 square meters or 90 square meters.

The rental units are open to the public without any threshold. The rent is about 4.2 yuan per square meter per day. The property management and information fees are included.

Bay Valley

Fudan University has signed an agreement with Chengtou to rent 352 apartments at the Bay Valley for leading professors, young teachers and staff.

“The university is solving the housing problems facing many teachers and staff by leasing apartments or allocating the university’s existing houses,” said Zhou Yaming, vice president of Fudan.

Xu Jianhua, deputy director of Yangpu, said the Creative Apartment project will help Yangpu’s ambition to create an entrepreneurship and innovation industrial system, which requires many professionals from across the world.

Wu Liupo is a senior engineer who works for a Yangpu-based tech firm focusing on accurate positioning based on China’s BeiDou Satellite system. He rents a 35-square-meter bachelor’s apartment, with a monthly rental of over 4,000 yuan.

“I can walk to my office now, and the full housekeeping services allows me to focus on my work,” Wu said.

Community managers, security and cleaners offer all kinds of services for tenants.

A smart system allows inhabitants to pay utility charges or finish online grocery shopping through a mobile app, said Dai Weiqiang, general manger with the property management company of the project.

The Creative Apartment complex also boasts a 1,000-square-meter public space covering shared kitchens, laundry rooms, library, gyms and recreational space, Dai said.


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