A first for Kansai: Historic bldg facade preserved in redevelopment

Orix Real Estate announced that they will be preserving the facade of a Taisho-era building and will incorporate it into the new condominium being built on the site. The design of the upper floors will also be in keeping with the original building facade. This is the first example of a condominium in the entire Kansai area that preserved the facade of the former building.

Apartment sales in ‘Gran Sanctus Yodoyabashi’ began on July 3rd, with 45 of the 60 units being offered in the first release. Apartments range in size from 56.09 ~ 78.83 sqm (603 ~ 848 sqft) and are priced from 37.6 ~ 56.5 million Yen. The average price per square meter is 693,000 Yen.

Grand Front Osaka Owner’s Tower

The massive redevelopment of the Osaka Station North District (“Umekita”) is well underway. The 38,000sqm site will have commercial office buildings, retail stores, a hotel and serviced apartments and a residential condominium tower. The design of the “Osaka North Plaza” located at the southern end of the site will be supervised by famous Japanese architect firm, Tadao Ando Architect and Associates.

July Market Data

  • Average new apartment price down 3.7% in Tokyo
  • No. of high-rise apartments fall 69.5%
  • Office vacancy rates down in both Tokyo and Osaka

NEW APARTMENT SUPPLY DOWN:

Brand new apartments listed for sale in the Tokyo area in July fell 1.3% compared to a year earlier to 4073 units. This is the second month of decline. This is due in part to apartment showrooms opening for shorter hours to conserve power, less activity by developers and a general constraint in supply as material shortages and restrained buying cause developers to delay sales activity.

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