Park City OSAKI, a New Town Comprising Business, Residences and Commercial Properties
Construction completed on two office/commercial towers, two residential towers and a commercial tower
Stores to Open in the Park City OSAKI Shop & Restaurant Commercial Zone Decided
May 20, 2015
Mitsui Fudosan Co., Ltd.
Nippon Tochi-Tatemono Co., Ltd.
Daiwa House Industry Co., Ltd.
Nippon Steel Kowa Real Estate Co., Ltd.
Mitsui Fudosan Residential Co., Ltd.
Mitsui Fudosan Co., Ltd., Nippon Tochi-Tatemono Co., Ltd., Taisei Corporation, Daiwa House Industry Co., Ltd., Nippon Steel Kowa Real Estate Co., Ltd. and Mitsui Fudosan Residential Co., Ltd., formed a consortium of six companies that has been working on a large-scale urban development project with seven towers for office, commercial, residential and other uses. The project, called the Kita-Shinagawa 5-Chome Area 1 Type-I Urban Redevelopment Project, has been underway since April 2012 on an approximately 3.6-hectacre site in the Tokyo district of Higashi-Gotanda, the largest area in the project. A majority of the project’s buildings have now been completed, and the site is beginning anew as Park City OSAKI. Retail establishments and restaurants have been contracted for the lower floors of the office buildings and the district’s retail zone, Park City OSAKI Shop & Restaurant, with the grand opening set for September 11, 2015 (some stores open earlier).
The project consists of seven towers: two office and commercial buildings, two residential buildings, one commercial building, one community center, and one workshop building that helps keep Osaki’s history alive for future generations. The entire complex has been given the name “Park City OSAKI.”
Beyond this mixed-function development, environmental considerations have also been made, with roughly 30% of the site designated as green space, and open, garden-like spaces situated between the buildings. The project has sought to create a district that is lush and bustling, and enjoyable to walk around in.
The project has been jointly developed by a group of partner companies, Mitsui Fudosan Co., Ltd., Nippon Tochi-Tatemono Co., Ltd., Taisei Corporation, Daiwa House Industry Co., Ltd., Nippon Steel Kowa Real Estate Co., Ltd. and Mitsui Fudosan Residential Co., Ltd. In the two office and commercial towers and one dedicated commercial building, Mitsui Fudosan is handling integrated leasing operations for the office and retail space (excluding owner-occupied space). Mitsui Fudosan Residential and the four other companies are conducting marketing and sales activities for the residential condominiums in the two residential buildings.
Twenty-eight restaurants and retail establishments have been contracted for the lower floors of the office buildings and the district’s commercial zone Park City OSAKI Shop & Restaurant. From shops that stock daily necessities to high-end restaurants and medical clinics with differing specialties, tenants have been selected to meet the various needs of local residents, office workers and visitors. Striking a balance with the surrounding greenery, the project gives to the district a sense of plentitude and vivacity.
The overall redevelopment of the Osaki-Gotanda district was first conceived when the district was designated as a “subcenter” in the Long-Term Plan for the Tokyo Metropolis formulated by the Tokyo Metropolitan Government in 1982. The plan was gradually carried out starting around 30 years ago and preceding the urban development that is currently taking place in various districts around the city today. In the 29-hectacre Gotanda district as well, momentum began building in connection with the subcenter plan, and area development got underway. The current project represents its culmination.
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