#Japan #Tokyo Tatemono #Minoo #Hankyu Hanshin #Minoo Samplaza

Revitalization Project of Minoo Samplaza Building in Osaka

Tokyo Tatemono Co., Ltd. and Hankyu Hanshin Real Estate Co., Ltd. have announced the commencement of a mixed-use complex development at the site of the former Minoo Samplaza Building, located in Minoo City, Osaka Prefecture. This project marks the first case in the Kansai region to utilize the "Mansion Land Sale System" established by the law regarding the smooth transition of apartment rebuilding.

Project Overview

The new mixed-use development will consist of a 11-story building featuring 109 residential units, public facilities, and retail stores, all combined under a land lease agreement. Positioned adjacent to the rotary in front of Minoo station on the Hankyu Minoo Line, the project aims to create a vibrant hub for local community interactions, tourism, and childcare activities. The first three floors will primarily be acquired by the Minoo City, enhancing the local area's accessibility and vitality.

Background of the Project

The original Minoo Samplaza building was constructed 45 years ago, and as of 2024, significant deterioration of the structures and facilities had been identified. A seismic diagnosis conducted in 2015 revealed that the building did not meet necessary earthquake resistance standards. Following thorough discussions, the decision was made to implement the Mansion Land Sale System to move forward with the redevelopment.

What is the Mansion Land Sale System?

This system allows for the sale of apartments and their respective land if over 80% of the owners agree, particularly in cases of inadequate earthquake resistance. This approach differs from traditional apartment redevelopment projects where a rebuilding committee is formed, shortening the project timeline and reducing the operational burden on the committee. Additionally, post-rebuilding use of the land is flexible, opening doors for various market-responsive usages.

Key Milestones and Future Schedule

• - August 2020: Tokyo Tatemono and Hankyu Hanshin selected as project collaborators.
• - January 2023: Resolution supporting land sale was overwhelmingly approved.
• - May 2023: Approval granted for the establishment of the land sale consortium.
• - Summer 2024: Start of demolition work.
• - August 2025: Commencement of new construction work.
• - May 2026 (planned): Start of property sales.
• - February 2028 (planned): Completion of the new building.

New Building Details

• - Location: 1 Minamirokubancho, Minoo City, Osaka.
• - Transportation: Approximately 3 minutes walk from Minoo Station on the Hankyu Minoo Line.
• - Facility Composition:

- 1st to 3rd floor: Public facilities and retail.
- 3rd to 11th floor: Residential units (totaling 109).

• - Site Area: 2,941.42 square meters.
• - Structure and Scale: Reinforced concrete with partial steel structure, 11 stories above ground and 1 basement level.
• - Total Floor Area: 17,368.72 square meters.
• - Design and Construction: IAO Takeda Design and Osumi Construction Co., Ltd.
• - Expected Completion: February 2028.

With the initiation of this project, Minoo City looks forward to breathing new life into the community, showcasing the potential of urban redevelopment through innovative planning and collaboration.