#Japan #Yokohama #Urban Redevelopment #Daiwa Residence

Daiwa House Residence Begins Its First Major Redevelopment Project

Daiwa House Residence, headquartered in Minato-ku, Tokyo, is taking significant strides in urban revitalization with its groundbreaking redevelopment initiative for the Nikkuheim Tsunashima Daiichi condominium project in Kohoku Ward, Yokohama. The Yokohama City Council has approved the rights conversion plan as of December 25, 2025, signaling a new chapter for the aging structure, which has seen 45 years of wear and tear.

The Need for Redevelopment

The original Nikkuheim Tsunashima Daiichi was designed before the enforcement of modern seismic standards implemented in 1981 and has now reached a critical age where the building's infrastructure no longer meets current safety and functionality standards. The deterioration of both structural integrity and facilities necessitated a comprehensive evaluation of future options. A comparative study indicated that maintaining the old structure would impose greater financial burdens compared to pursuing a complete redevelopment, leading to the establishment of the redevelopment association in January 2024.

Project Specifications

• - Original Building:

- Total Floor Area: 7,108.99 sqm
- Private Area: 5,649.16 sqm
- Floors: 8 (Reinforced Concrete)
- Units: 98 (93 residential, 5 commercial units)

• - New Planned Building:

- Total Floor Area: 14,416.16 sqm
- Private Area: 12,790.52 sqm
- Floors: 10 (Reinforced Concrete)
- Units: 195 (191 residential, 4 commercial units)

This transition illustrates the project’s aim to double the number of residential units while significantly expanding available living space and improving amenities.

Timeline of Events

The project has seen several key developments and is scheduled to proceed as follows:

• - April 2023: Approval of the redevelopment resolution
• - January 2024: Establishment permission for the redevelopment association
• - June 2025: Daiwa House Residence selected as business partner for the project
• - September 2025: Approval of amendments to articles of incorporation and project plan
• - December 2025: Rights conversion plan approved
• - November 2026: Expected construction commencement
• - October 2028: Expected completion of construction

Location Accessibility

The new structure will be located in Tsunashima Nishi 2-Chome, Kohoku Ward, Yokohama, just a 6-minute walk from the Tokyu Toyoko Line's Tsunashima Station, enhancing accessibility for future residents.

Commitment to Urban Revitalization

Daiwa House Residence has completed over 130,000 housing units in its history, branching into various projects including single-family homes, mixed-use developments, and renovation projects. With this first large-scale redevelopment initiative, the company aims to not just replace an old structure but to actively contribute to urban renewal and create future housing that meets modern needs. By leveraging their extensive experience and innovative approach, Daiwa House Residence aspires to forge new value in urban living, hoping to enrich residents' communities and provide a sustainable future.

This ambitious project is representative of Daiwa's vision for modern urban landscapes—where safety, comfort, and community coalesce into thriving spaces for the future.