【Tokyo’s Failure, Milan’s Solution】Who Benefits from the Athletes’ Village Legacy? The Crucial Difference Between Harumi’s “Investment Tower” and Porta Romana’s “Student Dormitory” Vision.

In spring 2023, a row of colorful camping tents appeared in the plaza in front of the Politecnico di Milano campus, seeming out of place with the modern buildings.

This was no play. It was a silent protest demonstration by students who had lost their homes due to skyrocketing rents.

“Senza casa = senza futuro” (No home, no future)

Even a studio apartment for students in Milan costs over 600 euros per month, far beyond what scholarships can cover. This housing crisis has become a social issue shaking all of Italy.

This student protest rapidly expanded, with tent villages springing up at major Italian universities.

Amidst this, the Porta Romana district, where construction of the 2026 Milan-Cortina Olympic Village is underway, is drawing attention as a glimmer of hope. The legacy the Milan-Cortina bid champions isn’t gold medals or tourist attraction, but a 1,700-bed student dormitory.

Comparing it to the bitter legacy of Tokyo’s “Harumi Flag,” we question what Olympic legacy truly means.

An “Academic Village” Born on a Disused Railway Line

Porta Romana is the site of a former railway yard in southern Milan.

The Athletes’ Village currently under construction here will serve as the living base for athletes from around the world during the 2026 Games. However, the true project begins the day after the closing ceremony.

In just four months, the Athletes’ Village will be transformed into a large-scale student dormitory with 1,700 beds.

Not luxury condominiums, but rental student housing. Not an investment target for the wealthy, but residences for Milan’s university students.

What’s even more noteworthy is the rent.

For 30% of the rooms provided, the rent will be set at an average of 430 euros per month. This is 25% lower than the Milan average. This exceptionally low rent is expected to be made possible through government subsidies.

What Legacy Did Tokyo’s “Harumi Flag” Leave Behind?

So what is the current state of the “Harumi Flag” left behind by the Tokyo Olympics? The Tokyo Metropolitan Government touted it as a legacy project that would become a neighborhood for families raising children.

However, when the condominiums were actually put up for sale, the outcome was the exact opposite of the ideal.

Harumi Flag became a hunting ground for investors seeking rental income and resale profits.

A 2024 survey revealed that approximately one-quarter of the units sold in the SUN VILLAGE district—292 units—were purchased under corporate names. One investment company from Fukuoka alone owned 38 units.

This highlights the reality: citizens genuinely wanting to live there lost out in highly competitive lotteries, while financially powerful investors went on a buying spree.

It’s already becoming a ghost town.

Even more concerning is the shadow cast by speculative capital from overseas, particularly Chinese investors. Evidence points to purchases by foreign investors in the transaction process.

As a result, since occupancy began in January 2024, numerous units remain dark even at night, already turning into a ghost town. Some surveys indicate that 30% of units lack registered residents, likely holding units awaiting resale or vacant units without tenants.

Furthermore,

– Owners of investment-purchased units are unreachable

– Violations of etiquette regarding garbage disposal and shared areas

– Units are being used as illegal private lodgings in violation of management rules, with foreign tourists seen entering and exiting carrying suitcases

Reports of deteriorating living conditions are mounting.

The piecemeal sale of metropolitan land has resulted in the completion of towers that feel inhuman and lifeless, mere financial commodities.

Caught between immediate profit and future benefit.

The difference between Milan and Tokyo may lie in their contrasting development philosophies.

Tokyo sold public assets cheaply to private entities and left everything to market forces. As a result, most profits were monopolized by developers and investors, while public benefit was lost. This could be called a “classic failure of neoliberalism.”

Milan’s Porta Romana project, however, focused on the social issue of student housing shortages and chose a path to solve it using public funds.

The president of the Milan Polytechnic University sounded the alarm: “Milan must not become a city only for the elderly and the wealthy.” What Milan sought to secure was long-term competitiveness by ensuring a future workforce.

Students continue to watch closely, scrutinizing whether the promises will be fulfilled. However, Milan maintains its stance of not backing down. The outcome should become clear before long.

At that time, what form will the Harumi Flag, visible from Tokyo Bay, have taken?