Nippon Steel Kowa Real Estate have received approval from the governor of Tokyo to convert the ownership rights as part of their Akasaka 1 Chome Redevelopment.
The 16,000 sqm site is adjacent to Tameikesanno Station and across the street from the US Embassy in Akasaka. The project was approved in August 2012.
Demolition of the existing buildings is expected to begin in January 2014 with construction starting in August. Completion is expected by April 2017.
The project includes a mixed-use 200m tall 37-storey building which contains commercial space and residential apartments.
When complete, it may impact views from Homat Viscount and Saion Sakurazaka.
The Toranomon Hospital block to the east will also be redeveloped in the near future.
Source: Nippon Steel Kowa Real Estate News Release, September 20, 2013 ().