Two high-rise apartment buildings are planned for Toyomicho, an area which adjoins the Kachidoki address on a man-made island in Tokyo Bay.
The Toyomicho District Redevelopment will include two 56-story buildings containing a total of 2,150 apartments and 631 car parking spaces. Construction is scheduled to start in 2020 with completion by 2025. With a total height of 189 meters, the buildings will be slightly shorter than the nearby The Tokyo Towers (193 meters). Due to its proximity to the water, a seawall will be built to protect the building from flooding or tidal inundation.
Toyomicho is located across the canal from the future Athlete’s Village for the 2020 Summer Olympics. The neighborhood is mostly a cold-storage warehouse district. It is a reclaimed island that was created in 1963.
This project is replacing the Touoroshi Toyomi Jutaku apartment complex which was developed by the Tokyo Fish Market Wholesale Cooperative between 1973 and 1983. While apartments in the nearby Tokyo Towers (2008) and Kachidoki The Tower (2016) may sell for around 900,000 ~ 1,000,000 Yen/sqm, apartments in the old Toyomi Jutaku have been selling for close to 600,000 Yen/sqm in recent years. This is still a 70% increase from sale prices in the 1990s and 2000s, when re-sale prices held steady at around 300,000 ~ 350,000 Yen/sqm.
There are a number of large-scale high-rise apartment towers in the area, including:
- Kachidoki The Tower (2016): 1,420 apartments
- The Tokyo Towers (2008): 2,794 apartments
- Kachidoki 4 Chome Redevelopment (2027): 3,120 apartments
- Athlete’s Village (2020 ~ 2024): 5,500+ apartments
- Deux Tours Canal & Spa (2015): 1,450 apartments
- The Parkhouse Harumi Towers (2013~2016): 1,744 apartments
- Park Tower Harumi (2019): 1,076 apartments
Source: The Daily Engineering & Construction News, January 12, 2017.