(Quoted from the Tokyo Metropolitan Government website)
A large-scale urban redevelopment project with a total investment of approximately 77 billion yen will commence in earnest in the Mita 5-chome West District, Minato City, Tokyo. Approved by the Tokyo Metropolitan Government on July 11, 2025, this pioneering project will construct a 45-story, 167.5-meter-tall super high-rise complex with two basement levels on approximately 1.3 hectares near Shirokane-Takanawa Station.
This article provides a detailed explanation of the entire Mita 5-chome Nishi District Type 1 Urban Redevelopment Project from a professional real estate investment perspective.
This redevelopment project is attracting attention not merely as a building replacement, but as a project with high social value that aims to revitalize the local community and enhance disaster resilience.
A notable feature of this project is that it was initiated by local residents who formed a redevelopment council in 2016, and it has been realized after approximately nine years of deliberation. Sumitomo Realty & Development participates as a member of the association, aiming to create a new urban environment through the fusion of technology and human resources. Expected to be completed by 2030, it is anticipated to become a new landmark for Minato Ward.
The Mita 5-chome West Area Type 1 Urban Redevelopment Project is an urban planning initiative implemented across an approximately 1.3-hectare area located in Mita 5-chome and Shirokane 1-chome, Minato Ward, Tokyo. While the district enjoys an extremely convenient location near the Shirokane-Takanawa subway station, it has historically faced challenges due to the mixed land use of residences, offices, commercial spaces, factories, and other facilities, coupled with the vulnerability of its urban infrastructure caused by narrow streets.
The district's most significant characteristic is the disaster risk posed by its dense concentration of wooden buildings. The situation where aging structures are densely packed along narrow streets could potentially hinder the securing of evacuation routes and firefighting operations during disasters. To resolve these urban-specific challenges, a fundamental reconstruction of the urban infrastructure based on the Urban Redevelopment Act was necessary.
A key advantage of the site is its excellent access to Shirokane-Takanawa Station. Shirokane-Takanawa Station, served by the Tokyo Metro Namboku Line and Toei Mita Line, offers exceptional transportation convenience to central Tokyo, making it a valuable area enabling a work-life proximity lifestyle. Furthermore, the foundation for a high-end residential district is already established nearby, exemplified by Shirokane The Sky (45 stories above ground, 156.10 meters tall). This project plays a role in further enhancing the value of this area.
A notable aspect of this project is the participation of Sumitomo Realty & Development Co., Ltd. as a member of the association. Sumitomo Realty & Development has consistently supported this urban development project as a business collaborator, possessing extensive redevelopment expertise and a stable financial foundation. Its participation is expected to enhance the project's reliability and quality.
The implementing body, the Mita 5-chome Nishi District Urban Redevelopment Association, is located at 14-18 Mita 5-chome, Minato-ku, Tokyo. It received its establishment approval from the Tokyo Metropolitan Government on July 11, 2025. Obtaining legal entity status through association formation enables full-scale project advancement as the implementing body for the urban redevelopment project. This association-based implementation scheme represents the optimal project structure, allowing for professional project management while reflecting the intentions of local residents.
Item Details
Project Name: Tokyo City Planning Project - Mita 5-chome West District Type 1 Urban Redevelopment Project
Implementing Body: Mita 5-chome West District Urban Redevelopment Association
Participating Member: Sumitomo Realty & Development Co., Ltd.
Implementation Area: Various locations within Mita 5-chome and Shirokane 1-chome, Minato-ku, Tokyo
District Area: Approximately 1.3 hectares
Total Project Cost: Approximately 77 billion yen
Building Scale: 45 stories above ground, 2 stories below ground, height 167.5 meters
The Mita 5-chome West District Redevelopment Project aims to achieve three key benefits beyond mere building height increase. These benefits represent a comprehensive approach contributing to improved quality of life for local residents and the sustainability of the city as a whole.
The first benefit is enhanced disaster resilience through the elimination of densely packed wooden structures. The current district features a dense concentration of aging wooden structures, raising concerns about the risk of fire spread during a fire and collapse during an earthquake. By reorganizing and consolidating the site, these buildings can be replaced with non-combustible high-rise structures, dramatically improving the disaster resilience of the entire area. Additionally, the coexistence of factory and residential functions will be eliminated, creating a safer and more comfortable living environment.
The second effect is the creation of a safe and comfortable pedestrian network. To address the current traffic environment issues caused by narrow streets, intersections on metropolitan roads will be redesigned to shorten crossings and create safer pedestrian spaces. On ward roads, sidewalk improvements will accompany road widening, and sidewalk-like open spaces will be placed along the perimeter of sites, greatly enhancing pedestrian safety and comfort. This will establish an environment where seniors and families with children can move around with peace of mind.
The third effect is the creation of a green, open space on the scale of a neighborhood park. We will relocate, expand, and redevelop the existing children's playground while also creating a plaza that can be used in conjunction with the playground. Furthermore, by installing rooftop gardens on the low-rise building sections and structuring them to be accessible from the children's playground and plaza, we will create a green space of approximately 2,500 square meters, equivalent to a neighborhood park. This space will serve as a place of relaxation and interaction for local residents of all ages, while also functioning as an evacuation site during disasters.
The planned building is designed as a 45-story above-ground, 2-story underground, 167.5-meter-tall super high-rise complex. With a total floor area of approximately 75,000 square meters, it will be a mixed-use building encompassing diverse functions such as residences, offices, shops, factories, and parking facilities. This scale positions it as one of the largest development projects within Minato Ward.
As part of public facility improvements, the plan includes the development of Block Road No. 2 (8 meters wide) and the redevelopment of a children's playground (approximately 960 square meters). Enhancing these urban infrastructure facilities will improve overall convenience and safety for the entire area. Specifically, the traffic environment improvements achieved through road widening will also contribute to better access for emergency vehicles, offering expected benefits for disaster prevention.
The building design incorporates considerations for reducing environmental impact and improving energy efficiency. By adopting the latest construction technologies and equipment systems, the project aims to obtain environmental certifications such as CASBEE (Comprehensive Assessment System for Building Environmental Efficiency) and BELS (Building Energy-saving Labeling System). This represents a crucial initiative from the perspective of sustainable urban development.
The most notable aspect of this project is that it has been driven primarily by local residents. For approximately nine years since the establishment of the redevelopment council in 2016, local residents, businesses, and the administration have worked together to deliberate on the project. This bottom-up approach to town planning enables the realization of a plan that truly reflects the residents' needs.
Through the participation of local residents, the project aims not only to improve the physical environment but also to strengthen community bonds. The newly developed plazas and rooftop gardens will serve as venues for local events and community activities, promoting intergenerational exchange. Furthermore, revitalizing the shopping district is planned to generate increased activity, with the expectation of stimulating the local economy.
The Mita 5-chome West District Redevelopment Project will be implemented in phases based on clear milestones. The five-year project timeline is set to begin with the approval of the association's establishment on July 11, 2025, followed by obtaining approval for the rights conversion plan within fiscal year 2025, commencing construction in fiscal year 2026, and completing building construction in fiscal year 2030.
Approval of the rights conversion plan is one of the most critical procedures in the redevelopment project. At this stage, the specific details of how the rights holders of the existing land and buildings will acquire rights in the new buildings are finalized. The formulation of the right conversion plan requires a fair and transparent process that ensures proper valuation of the existing assets and fully reflects the intentions of the rights holders.
After construction commences, the project aims for completion in fiscal year 2030 following a construction period of approximately four years. During this period, minimizing the impact of construction on the surrounding area and ensuring thorough safety management will be critical challenges. Leveraging Sumitomo Realty & Development's extensive construction management experience, the project will be operated with the utmost consideration for nearby residents as the top priority.
Timeline Key Procedures/Phases Details
July 2025 Association Establishment Approval Approval by Tokyo Metropolitan Government for establishing the Urban Redevelopment Association
FY 2025 Rights Conversion Plan Approval Determination of rights for former rights holders in the new building
FY 2026 Construction Commencement Start of demolition and construction work
FY 2030 Building Completion Facility completion, handover, and occupancy commencement
The Mita 5-chome West Area Redevelopment Project is also an extremely attractive project from a real estate investment perspective. Its central Tokyo location in Minato Ward, excellent transportation access via Shirokane-Takanawa Station, and the project scale with a total investment of ¥77 billion combine to offer elements that can be expected to enhance long-term asset value.
Regarding investment value based on location, Minato Ward is one of the areas within Tokyo where land prices are most stable. The Shirokane and Azabu areas, in particular, have established brand value as international residential districts, ensuring continued demand from overseas investors. The area around Shirokane-Takanawa Station is expected to develop further as a hub for urban regeneration, with this project playing a central role.
In terms of building specifications, the rare 45-story super high-rise structure provides significant added value. Opportunities for new construction of this scale within Minato Ward are limited, suggesting a value premium due to supply scarcity. Furthermore, the latest construction techniques and equipment specifications are expected to make it a sustainable investment that maintains competitiveness over the long term.
Regarding rental demand, stable rental income is anticipated due to its convenient commuting access to central Tokyo and high-quality living environment. Demand is particularly anticipated from expatriates of foreign companies and high-income earners, potentially allowing for rents above market rates. The inclusion of commercial and business functions also offers the appeal of enjoying diverse revenue opportunities.
The Mita 5-chome West District Redevelopment Project is also expected to create synergistic effects with multiple ongoing redevelopment projects in the surrounding area. Planned redevelopment projects in the Mita 3-chome and 4-chome districts, as well as the Mita Koyamacho Nishi district, including the nearby Shirokane The Sky, are advancing the overall value enhancement of the area.
The successive completion of these development projects will transform the area around Shirokane-Takanawa Station into a new urban hub. Significant improvements in both the residential and investment environments will be realized through enhanced commercial facilities, improved transportation infrastructure, and expanded green spaces. This comprehensive development effect serves as a key factor mutually elevating the value of individual projects.
Furthermore, it aligns with various measures promoted by Minato City to realize its vision of an “International City Minato,” contributing to enhanced international urban competitiveness. Initiatives such as multilingual public services, attracting international educational institutions, and enriching cultural and artistic facilities are expected to capture global residential and investment demand.
The Mita 5-chome Nishi District Type 1 Urban Redevelopment Project is an advanced initiative demonstrating the ideal form of 21st-century urban development. The 45-story super high-rise complex, realized with a total project cost of ¥77 billion, transcends mere building construction. It serves as a model example of comprehensive town planning, simultaneously achieving community revitalization and enhanced urban functionality.
The project's defining feature is its bottom-up development approach, driven by local residents. The nine-year consensus-building process since the 2016 establishment of the redevelopment council enabled development that genuinely responds to residents' needs. Sumitomo Realty & Development's participation achieved a balance of expertise and local relevance, establishing a foundation for sustainable project operation.
The three project outcomes—enhanced disaster resilience, creation of pedestrian networks, and establishment of lush open spaces—offer solutions to common urban challenges, holding potential for replication in other areas. Notably, the creation of neighborhood park-scale green spaces is a crucial initiative contributing to mitigating the urban heat island effect and preserving biodiversity.
From an investment value perspective, three key value elements support long-term asset appreciation: the prime location in Minato Ward, the excellent transportation access via Shirokane-Takanawa Station, and the rarity of a super high-rise building. Synergies with surrounding developments are expected to enhance the value of the entire area as construction progresses toward completion in 2030.
As a “Human Capital Investment Company,” INA&Associates will contribute to the growth and prosperity of all stakeholders through such socially valuable development projects. The Mita 5-chome West District Redevelopment Project exemplifies new value creation through the fusion of technology and human capabilities, setting a benchmark for future urban development.
For those considering real estate investment, we recommend making investment decisions from the perspective of long-term value creation. We firmly believe that investments contributing to the realization of a sustainable society, rather than merely pursuing short-term profits, are what truly enhance asset value.