Area District Redevelopment Approved for Tokyo’s Itabashi Ward
Tokyo, Japan 7 June 2019
The Tokyo Metropolitan Government has authorized the establishment of the Oyama Town Cross Point Area District Redevelopment Association. Once the project rights conversion plan is approved, scheduled for May 2020, construction will start in December 2020, with completion set for June 2023. Sumitomo Real Estate, with the participation of Fujorus Corporation, expect the total project to cost approximately 16.6 billion yen (US$154 million).
The redevelopment facility is divided into four blocks: Block A will rise 26 floors above ground level, approximately 91 meters high; Block B will be eight floors above ground, approximately 29 meters high; Block C will be three floors above ground, approximately 16 meters high; and Block D will be 26 floors above ground level, approximately 95 meters high.
The total area of the development is about 40,611 square meters and will include housing, retail and parking. Each block will be divided by a roadway, which will be crossed by a new arcade, Happy Road Daisen, included in the planning site.
The site is adjacent to the busy Tobu Tojo line Oyama station.
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