Kosugi Core ParkShibuya Municipal Kitaya ParkTodoroki Ryokuchi Park project by Kawasaki Todoroki ParkIllustration of park after redevelopment (2)Shibukita Partners, a Tokyu-led consortium that also includes Crazy Ad Inc. and Nikken Sekkei Ltd., was selected as the designated manager of Shibuya’s first Park-PFI project and renewed Shibuya Municipal Kitaya Park in April 2021. Blue Bottle Coffee has opened a branch in the new two-story building sited in the park, while the roofed plaza beside the building not only can be used as a cafe space, but also provides a venue for a wide range of events, including exhibitions and workshops, whatever the weather. The development will thus make the park a hive of activity. In the 2022 Good Design Award organized by the Japan Institute of Design Promotion, the project was praised for delivering park design that ingeniously addressed the challenging design conditions posed by level differences, and for park management sympa-thetic to the local culture. The award also recognized the park’s contribution to improving the neighbor-hood’s appeal, both in terms of diverse green choices and a building of a size that blends in well with the streetscape of the Jinnan district.Following the March 2023 conclusion of a project agreement with Kawasaki City, Kawasaki Todoroki Park Corporation—a consortium of five companies includ-ing Tokyu Corporation, Fujitsu Limited, Marubeni Cor-poration and ORIX Corporation—began operating and maintaining Todoroki Ryokuchi Park in April 2023. While taking charge of Todoroki Ryokuchi’s running, the consortium will undertake park redevel-opment projects, including the rebuilding of Todoroki Arena and the conversion of Todoroki Athletics Stadi-um into a stadium specializing in ball sports. As the biggest investor in Kawasaki Todoroki Park, we will provide powerful support for the consortium’s work by supplying the urban development know-how and hu-man resources we have cultivated to date, along with various kinds of operational support through our compa-ny and other members of the Tokyu Group. In doing so, we will contribute to the creation of a new sport-focused entertain-ment hub in the Tokyu area. The redevelopment of Kosugi Core Park was com-pleted in October 2021, based on Japan’s first urban park renovation agreement, between Kawasaki City and Tokyu Corporation. The agreement was based on a system of special provisions for the downtown walkable district identified in the city’s urban rede-velopment plan and has resulted in the creation of a pedestrian-friendly space seamlessly integrating the area in front of the station with the park, providing a new living space for the neighborhood fully connect-ed to the surrounding community. Terrace seating and benches in the park provide a space where peo-ple can relax. In addition, two new stores are opening there: a two-story Melbourne-style cafe-dining facility with terrace seating and a casual yakitori stand of-fering grilled chicken and other skewers that takeout diners can enjoy right away in the park. On the operational side, we will provide new ways of spending time in the park and hold events aimed at promoting connections to the neighborhood and its people, in order to encourage park use and foster a sense of community through autonomous projects that meet diverse needs. We also plan to bolster guidance and information functions by opening a comprehen-sive website and information counter. In our development efforts, we intend to create an environment with abundant water and greenery, with activity loops along the main lines of flow through the park. By creating these enriched zones furnished with diverse facilities, we aim to bring to fruition a park in which numerous activities can intersect and interact. In addition, we plan to revamp the existing Todoroki Athletics Stadium to create a stadium specializing in ball sports, thereby generating excitement, liveliness, and pride.Shibuya Municipal Kitaya ParkIllustration of park after redevelopment (1)Kosugi Core Park27PPP/PFI Business Initiatives
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