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Ur japan urban renaissance agency ruins
Urban Renaissance Agency (独立行政法人都市再生機構, Dokuritsu gyōsei hōjin Toshi saisei kikō) (UR, 都市機構, UR都市機構) is a semipublic Independent Administrative Institution, and is an agency responsible for Japanese housing. It provides housing at rates pegged to the market, but without the fees associated with private renting in Japan (key money, renewal fee) or the need for a guarantor. As of 2014 it managed around 750,000 rental properties across Japan.
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History
It was founded in 1955 as the Japan Housing Corporation (Nihon Jūtaku Kōdan) to address the country's housing shortage due to post-war urbanisation. It was combined with other government organisations including the Japan Regional Development Corporation and semi-privatized in 2004 during the administration of Prime Minister Junichiro Koizumi (2001–06).