Mori Building Co. has revealed its new development project for Tokyo and plans to have it ready by March 2023. It will include the tallest building in Japan and 24,000 square meters of greenery. The temporary name of the real estate is the Toranomon-Azabudai project. Here is what we know about it so far.
The project comes from the creators of Roppongi Hills, an iconic business place in Tokyo where the head offices of Google and Goldman Sachs Group are. Mori Building Co. has been working on Toranomon-Azabudai estate for more than 30 years. The estimated cost of construction is JPY 580 billion or around USD 5 billion.
The Toranomon-Azabudai project will cost nearly USD 5 billion and feature 24,000 square meters of greenery.
The renderings of the site depict three high-rise towers that can accommodate 20,000 office workers and 3,500 residents. The crown of this real estate project is the 330 meters tall tower that will be higher than Abeno Harukas situated in Osaka. Nevertheless, the Mitsubishi Estate that builds the Tokiwabashi project featuring a 390-meter tall structure in the vicinity of Tokyo station will surpass Toranomon-Azabudai estate around 2027. So far the tallest building in Japan is Tokyo Sky Tree going up 634 meters.
For Japan that has a limited amount of land and strict land zoning rules, going upwards helps to create more business and residential spaces. However, constructing high-rise buildings in the country prone to earthquakes is a challenge. The transformation of the Tokyo skyline with real estate projects like Toranomon-Azabudai and Tokiwabashi shows improvements in the technologies that help to cope with wind and swaying during seismic activity.
Another new feature of Japanese urban development is the focus on green and sustainable development. The Toranomon-Azabudai project will include a park area of 6,000 square meters right in its heart, with the total area of greenery reaching 24,000 square meters out of 860,000 square meters of the total floor area. To compare, Roppongi Hills has 19,000 square meters of green spaces with a total area bigger than the Toranomon-Azabudai.
Shingo Tsuji, CEO of Mori Building Co., envisions the new estate as a “modern urban village” where people can escape from the fast-paced megalopolis life. For Japan’s cityspaces are mostly grayish rooftops of low-rise constructions. The Toranomon-Azabudai project will also rely on renewable energy to cover up 100% of the demand.
A global hub
The real estate site will also become a tourist attraction and an international business hub. Mori Building estimates that nearly 25-50 millions of visitors will see the Toranomon-Azabudai project that includes office and residential spaces, shopping malls, British school for 700 students and a luxury hotel. We are yet to see what will the project offer in its 64-storey main tower.
One thing is clear, the new development project bets on attracting foreigners and international businesses. While Japan remains a highly homogeneous society with peculiar business culture, more and more companies sick entrance into the Japanese market. Navigating Japan and finding services in English is still a challenge for many foreign entrepreneurs, their families, and tourists. Places like Roppongi Hills and Toranomon-Azabudai project offer ecosystems where one can find all the necessary resources and support.
"Otsumami" - a bite size snack:
Japan’s urban development might be forever redefined by the Toranomon-Azabudai project.