Nishiazabu 3 Development 2

Redevelopment discussions are moving forward for a prime site located directly across the street from Roppongi Hills. Although details are still under discussion, the project could be a mixed-use tower containing a 100-room hotel and 370 rental and condominium-type apartments.

According to a 2015 Investor Relations publication by Nomura Real Estate, the development may include a 53-storey tower with construction scheduled to start in 2018 and be completed by as early as 2022. It is possible that government allowances could result in a taller building than previously proposed.

The site covers a 16,000 sqm block of land alongside TV Asahi Avenue and across the street from Roppongi Hills and the Grand Hyatt Hotel. It currently includes several older office buildings, apartment buildings, small houses, as well as temples. There are 210 residential landowners and 70 corporate landholders.

The neighbourhood underwent a huge transformation when the Roppongi Hills complex was completed in 2003, however, many of the surrounding old buildings have remained unchanged. Despite the large increase in residents and day-time workers in the area, footpaths and streets have not been widened, causing traffic and congestion problems. There are also concerns that the current shortage of open space for refuge or evacuations could create a potential problem in the event of a natural disaster.

Redevelopment discussions have been underway since 2007.

Nishiazabu 3 Development 1

Sources:
The Kensetsu Tsushin Shimbun, January 28, 2016.
Nomura Real Estate Holdings, Inc., Investor Relations, 2015.

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