Any buyers? Minato Mirai's deficit difficulties lead to last minute sales tactics
Commission for anyone who can sell the remaining land in Minato Mirai.
Minato Mirai 21 (MM) is a 186 hectare waterfront business district in Yokohama, and is home to the Yokohama Landmark Tower. The land reclamation (40% of the area) and urban renewal project began in 1983, but there are still some large parcels of undeveloped land that the city is desperately trying to sell.Read more
Hotel Suigo in Ibaraki to be demolished due to earthquake damage
The Suigo hotel in Tsuchiura City, Ibaraki, will be demolished after it sustained damage in the March 11 Tohoku earthquake. Suigo is a local government operated hotel which offers low-cost accommodation. These type of lodgings are called "kokumin shukusha".Read more
Foreign fund sells Sendai hotel
A business hotel developer and operator called Shogetsu Sangyo announced that they have purchased Hotel Hokke Club Sendai from a foreign fund.Read more
Motoazabu Grand Mansion to be demolished in February
Taisei Corporation announced that they will begin the demolition of expat apartment "Motoazabu Grand Mansion" in February. The demolition work is scheduled to be completed by the end of November.Read more
Tsunami-hit homeowners to receive 80% of former land values
The town of Shinchi in Fukushima Prefecture will soon begin the process of buying up land in coastal areas from residents who have been displaced from the March 11 tsunami. This is the first town to announce official plans and set purchase values.
The land will be purchased at 80% of the government assessed land values (koji-chika) that were valued prior to the disaster.
There are five towns and cities along the tsunami-hit coastline, incuding Minamisoma, Soma, Iwaki, Hirano and Shinchi, that plan to relocate residents to higher ground. In Shinchi, 500 homes were fully or partially destroyed by the Tohoku earthquake and tsunami.Read more
Don't hold your breath for the new Yamanote Line Station
Because it won't be open for another 10 years.
At the beginning of January newspapers were abuzz with news of a new proposed station on the Yamanote Loop Line, and many articles mentioned the potential rise in real estate prices for the area surrounding the proposed station.
But how realistic are these stories?
The proposed station will be between the Shinagawa and Tamachi stations, and if it does get the go ahead, it is still not expected to be open until at least 2020. Similar reports of a new station also made the rounds about eight years ago.Read more