Urban redevelopment in Futako-tamagawaFutako Tamagawa Rise Shopping CenterThis year saw the opening in the Yokohama Station West Exit area of THE YOKOHAMA FRONT, a large complex with 43 above-ground floors and 2 basement floors. The facility has been completed under the Yokohama Station North West Exit Tsuruya District Type 1 Urban Redevel-opment Project.At the 12th meeting of the National Strategic Spe-cial Zone Council for the Greater Tokyo Area, the Yoko-hama Station North West Exit Tsuruya District became the country’s first project to be accredited by the Prime Minister as a National Strategic Housing Development Project*, taking advantage of the relaxation of regulations on floor area ratios. October 2021 saw THE YOKOHAMA FRONT selected as the project’s name by project devel-opment body Urban Redevelopment association in the Yokohama Station N. West Exit Tsuruya district. Tokyu Corporation has promoted the project as a member of this redevelopment association. Along with THE YOKOHAMA FRONT TOWER, a 459 unit residential property, this complex consists of a hotel, serviced apartments, and commercial facilities, while its top floor houses Vlag yokohama, a co-creation facility for business originating in Yokohama that has been given a characteristically open feel by its long glass windows. The development aims to deliver an enhanced living environment that will help attract global companies to the area. The development aims to deliv-er an enhanced living environment that will help attract global companies to the area.Through this, we will further enhance the functions of Yokohama’s coastal urban area as an inter-national business hub, as well as aiming to bolster its functions as a dynamic urban center for the next generation.*National Strategic Housing Development Project: A project aimed at encouraging the development of the housing required to bolster the international competitiveness of in-dustry and form hubs for international economic activity in National Strategic Special Zones by relaxing regulations on floor area ratios.Asset turnover business is business that involves acquiring properties, enhancing their value, and then selling them to investors. We are working on renova-tion projects that contribute to profits within a short period, taking into account such risks as changes in real estate market conditions and soaring construc-tion costs. In February 2024, we opened the third of our IOQ innovation office developments: LANTIQUE BY IOQ, involving the full renovation of a luxury vintage condominium into a complex incorporating a serviced shop, offices, and SOHO small office/home office units.to changing lifestyles within the Tokyu area, including brokerage, purchasing, and resale services of the kind only we can offer.Futako-tamagawa as an appealing place to workSince the completion of Futako Tamagawa Rise 2nd phase development in 2015, Futako-tamagawa has become a popular neighborhood whose harmonization with its abundant natural surroundings distinguishes it from locations closer to the metropolitan center, and visitors from outside the neighborhood have increased dramatically. The addition of approximately 10,000 new workers at the Futako Tamagawa Rise Towers has also greatly increased the number of working people in the area, generating synergy effects such as an increase in station passengers and commercial facility users and creating a new work style within a multi-purpose complex encompassing shops, movie theaters, a fitness club and a hotel.The Futako Tamagawa Area Management Or-ganization, to which we belong, is promoting urban development in this area through public-private part-nerships. Going forward, this area will continue to generate new value as a diverse neighborhood where various people come and go to live, work, and visit.Futako Tamagawa Rise Shopping CenterFollowing on from the opening of the Townfront, River-front, and Station Market zones in 2011, the shopping center had its grand opening in 2015. Among the many features that made it a topic on everyone’s lips are a cinema complex with the very latest equipment, stores new to Japan, and stores offering new lifestyles of a kind never before experienced by Japanese con-sumers. In 2019, Futako Tamagawa Rise Shopping Center won the top prize—the Gold Award—in the Eighth Ja-pan SC Awards, organized by the Japan Council of Shopping Centers. This facility will contin-ue to serve not only as a shop-ping mall where customers can enjoy making purchases, but also as a community plat-form for the Futako-tamagawa area, offering a place where people can connect with each other.Futako Tamagawa Rise and its abundant natural surroundingsTHE YOKOHAMA FRONT26THE YOKOHAMA FRONTBolstering asset turnover businessOpened in June 2024 Total floor area: 79,082 m2
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