#Japan #Real Estate #Nakano #Tokyo Tatemono #Brillia Hounancho

Brillia Hounancho: A Landmark Redevelopment Project

In an exciting development for the residents of Nakano, Tokyo Tatemono Co., Ltd. has announced that registrations will open on November 4 for the new residential project, Brillia Hounancho. This ambitious initiative stems from the successful completion of the Akimoto Building Nandai Residential Land Sale Project, aiming to enhance the living conditions in this urban area.

Background and Significance

The previous structure, known as the Akimoto Building Nandai, was completed in 1973 and housed various offices and apartments. However, issues such as aging infrastructure and insufficient seismic strength prompted the need for redevelopment. Additionally, the landowners were faced with the financial burdens associated with land lease renewals. Collaborating with local stakeholders, Tokyo Tatemono worked diligently on a reconstruction plan that culminated in the approval of the land sale in June 2023.

This project leverages Japan's Land Sale System, part of the Condominium Redevelopment Law, designed to streamline the process for upgrading residential buildings. Through this system, the total land area has been expanded, including adjacent properties owned by Tokyo Tatemono, to approximately 4,137 square meters. This expansion paves the way for an impressive eleven-story building comprising 179 residential units, with construction slated to begin in April 2025 and completion expected by April 2028.

Project Features

Brillia Hounancho boasts an enviable location just a five-minute walk from the Hounancho Station on the Tokyo Metro Marunouchi Line, ensuring excellent transportation access. The project will offer a variety of living spaces tailored for diverse lifestyles, with floor plans ranging from cozy 1LDK units of 40 square meters to spacious 4LDK layouts exceeding 80 square meters.

The development is meticulously designed, featuring shared amenities such as a Kitchen Lounge for social gatherings with family and friends, a Personal Space for remote work, and a Community Garden to promote relaxation and interaction among residents. Moreover, the Rooftop Garden will provide a beautiful green space dedicated exclusively to residents, contributing to a vibrant and sustainable living environment.

Understanding the Land Sale System

The Land Sale System allows for the sale of land associated with condominiums deemed necessary for demolition, provided a majority of condominium owners are in favor. This method differs from typical redevelopment projects as it simplifies the business timeline by concluding upon the completion of the land sale, alleviating the burden on management committees. The flexibility offered in the use of land and buildings post-redevelopment aligns the project with market demands and local circumstances.

With the implementation of this system, Brillia Hounancho can utilize the combined plots of land effectively to realize this large-scale development.

Timeline of the Project

The scheme's progress has been steady:

• - June 2023: Approval of the land sale resolution by the Akimoto Building Nandai Residential Management Association.
• - October 2023: Establishment of the Nandai Residential Land Sale Association.
• - April 2024: Sale of the land to Tokyo Tatemono.
• - August 2024: Approval for the dissolution of the Land Sale Association.
• - April 2025: Commencement of new construction for Brillia Hounancho.
• - November 2025: Open registration for Brillia Hounancho.
• - 2026: Planned start of sales.
• - April 2028: Anticipated project completion.

Conclusion

Brillia Hounancho stands as a testament to Tokyo Tatemono's commitment to addressing urban housing challenges and fostering sustainable urban development. With its strategic location, thoughtful design, and innovative approach to land redevelopment, this project promises to enhance the quality of life for many residents in Nakano, Tokyo. Stay tuned for more updates as this landmark project unfolds.