Luxury ryokan to be built in Ginza
Hulic, a major real estate company, recently announced plans to redevelop a prominent corner block in Ginza into a luxury ryokan-style hotel with an opening scheduled for 2025.
Office vacancy rates improve in 4 out of 5 central Tokyo districts
Several relocations to larger office spaces and some building closures due to redevelopment saw central Tokyo’s office vacancy rate improve by 0.04 points in March to 6.37%.
Tokyo Apartment Sales in March 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2022:
New mixed-use apartment building for Shibuya 1-Chome Address
A 14-story, 74.8-meter tall mixed-use building is planned for the former Mitake Park near Shibuya Station. This project will include a public square, retail, a multi-purpose hall, the Mitake arena for sporting events, and 26 rental apartments designed to attract creative folk and families.
Demolition of Nakagin Capsule Tower to start April 14
Demolition of the Nakagin Capsule Tower, a famed metabolist building, is scheduled to start on April 14, 2022, ending years of efforts to save the landmark structure.
Construction starts on 150m tall office tower near Tameike Sanno
Sekisui House and Nippon Life Insurance Company have officially started construction on a 150-m tall office tower near Tameike Sanno Station.
What happens to an old building that doesn't meet current fire codes?
On January 28, NHK published a piece on old ‘non-compliant’ buildings that don’t meet current fire codes. A ‘kison-futeki-kaku’ （既存不適格) or non-compliant building is one that was built to the correct codes at the time of construction, but as codes were updated over the years, would not meet current standards and could not be re-built to the exact same specifications today.