Nomura Real Estate Development is planning a mixed-use hotel and condominium complex for a 4,000 sqm block of land near Ebisu Station in central Tokyo. Mixed-use hotel / apartment projects are quite uncommon in Japan, with one of the few examples being Mori Building’s Toranomon Hills tower in Minato ward.
Nomura acquired the site in March 2017 for 10.5 billion Yen through a public bidding process. It was previously a government-owned housing complex for civil servants. The government required the buyer to build both apartments and accommodation facilities as a condition of the sale.
The 11-storey building will include an 82-room Prince Smart Inn hotel operated by Prince Hotels & Resorts, a nursing home, child daycare, and 88 residential apartments. The apartments will range from two to four-bedroom units, with all apartments to be priced over 100 million Yen (approx. 935,000 USD). Apartment sizes with range from 60 ~ 200 sqm (646 ~ 2,152 sq.ft) and will have spacious balconies or roof terraces. Residents will be able to enjoy services provided in conjunction with the hotel.
The 17 billion Yen (approx. 160 million USD) project is 250 meters from the Ebisu Station area and 600 meters from the trendy Daikanyama district. Completion is tentatively scheduled for late March 2020 with the hotel to open by the following summer.
The Nikkei Shimbun, February 23, 2018.
Nomura Real Estate Development News Release, February 22, 2018.
Prince Hotels & Resorts News Release, February 22, 2018.