Mori Building’s latest high-rise – Toranomon Hills – is officially open today. At 247m tall, the 52-storey building is Tokyo’s second highest mixed-use building after Tokyo Midtown. An opening ceremony was yesterday, with Prime Minister Shinzo Abe giving a speech.
The building contains office space on floor 6 to 35, apartments on floors 37 to 46 and the Andaz Hotel on floors 47 to 52. Of the 172 apartments, 70 were offered for sale (most have already sold) with the remaining apartments offered for rent.
Monthly rents range from 550,000 Yen (5,400 USD) for a 1-bedroom up to 2.92 million Yen (28,500 USD).
Residents will have access to Andaz Hotel services including the Andaz Tokyo AO Spa and Club on the 37th floor. There will also be bilingual front-desk staff.
Most of the office space has already been leased.
Mori Building plan to develop another 10 major projects in central Tokyo over the next 10 years. In central Tokyo, a large number of redevelopment projects are either underway or in the planning stages as the vast number of buildings built during the period of rapid economic growth in the 1960s and 1970s are nearing the end of their useful life. The success of Mori’s Roppongi Hills development has made it easier for the developer to obtain support from landowners in potential development sites.
Projects that were put on hold following the global financial crisis in 2008 are finally starting to be revived as confidence returns to the market.
The Asahi Shimbun, June 9, 2014.
The Yomiuri Shimbun, June 5, 2014.
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