39-yr old apartment building near Hamamatsucho to be redeveloped

The home owners association of an old apartment block in Tokyo’s bay front area have voted in favor of redevelopment, with the former 14-storey building to be replaced by a 32-storey apartment tower. The former Itohpia Hamarikyu apartment building was built in 1979 and is a 5 minute walk east of Hamamatsucho Station in Tokyo’s Minato Ward. The 14-storey building contains 328 apartments and sits on a 2,820 sqm block of land fronting onto an expressway.

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Laurel Tower Renai Hamamatsucho

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Price when new: 43 ~ 268 million Yen (approx. 1,150,000 Yen/sqm)
Size range: 32.21 ~ 140.19 sqm (347 ~ 1,508 sq.ft)

Area: Kaigan / Minato-ku


Sales began in November 2018.

Laurel Tower Renai Hamamatsucho (previously temporarily named ‘Minato Front Tower’) is a 23-storey apartment tower located on a man-made island in Tokyo Bay. The building is on a narrow block of land sandwiched between a 2-storey expressway on one side and the elevated Yurikamome line on the other side. This is primarily a warehouse district with a small number of apartment buildings and offices. The land is zoned as quasi-industrial.

Completion is scheduled for December 2019 with apartments to be delivered by buyers from February 2020.

The neighboring building on the south-west side is the 14-storey Bayside Stage Tokyo condominium which was built in 2001. Apartments are selling for an average of 715,000 Yen/sqm on the resale market.

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