The official groundbreaking ceremony for the Shibaura 1 Chome Project was held on September 28. This project will see the former Hamamatsucho Building replaced with two 235-meter tall towers.
The 43-story South Tower will be completed in 2024, one year later than original estimates. Construction of the neighboring 45-story North Tower will start in 2027 with completion in 2030.
Both towers will have commercial space on the lower floors and office space on the mid floors. The upper floors of the South Tower will have a hotel, while the North Tower is expected to have apartments.
Due to the low-lying waterfront location and the risk of inundation in high tides, flood walls will be installed within the 4.7-hectare grounds and important electrical equipment will be stored on the 2nd floor or higher.
Hamamatsucho Building, which will be demolished to make way for the new towers, was built in 1984 as the Toshiba Building. The 165m tall, 40 story building has a total floor area of 162,600 sqm. It housed the headquarters of Toshiba and their group companies, with Cosmo Oil located on lower floors. In late 2008, Nomura Real Estate Holdings acquired 65% of Toshiba Real Estate’s shares for 150 billion Yen. In 2015 this district was designed as one of Japan’s strategic special zones.
Source: JR East Press Release, September 28, 2021.
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