The Town that Mori Built: How Two Massive Gentrification Projects will Drive Value in Toranomon & Kamiyacho

Click here to see property available for sale near both stations.

Mori Building has been on a ravenous rebuilding streak in the Kamiyacho / Toranomon area and there is no sign of stopping.

Indeed, if you stand anywhere around the Kamiyacho station area and look up at the skyline that surrounds you, the Mori Building logo is numerous and ubiquitous.

Moving forward that is going to get more in depth with many large towers in addition to curated public spaces will be finished between 2019 and 2022.

Both the Toranomon Azabudai Project and the Toranomon Hills Expansion are slated to be the crown jewel for internationalization in the Tokyo skyline according to Mori Building.

Toranomon Hills Expansion

From the start, Toranomon Hills was never envisioned to be a standalone project but the first spearhead in a huge transformation of the Toranomon station area.

The area is going to be rebuilt to such an extent that a new Hibiya line station is planned for 2020 for the rest of the complex to be built around.

Shingo Tsuji, CEO of Mori Building, explains below in greater detail during a presentation given in 2016 what Toranomon will look like once they are finished.

Mori Building has the power to drive up property values in the areas they inhabit. Well known for high quality, high serviced properties, the Mori Building name is associated with very cultivated exterior environments thanks to their dedication to urban planning; something that other developers are slow to catch onto.

Historical land prices tell the tale. Where Mori Building goes, land prices will appreciate.

Kamiyacho and Toranomon Station are only a 15 minute walk from each other so what happens in one area will have an effect on the other. The above chart gives a glimpse of the future for where prices in Kamiyacho will go, following the trend set by the opening of Toranomon Hills.

Why? Because Mori Building is undertaking a separate yet equally grand undertaking opposite Kamiyacho station called the Toranomon Azabudai Project.

The Toranomon Azabudai Project

This mammoth project will add 820,000 square meters of office, residential and hotel space across three main towers and numerous smaller buildings on a land footprint of 8.1 hectares spanning between Roppongi Itchome and Kamiyacho Stations.

Green spaces and internationalization are the main themes with this project as Mori Building is determined to continue rebuilding the area into what they are proudly touting will be one of the most international areas of the city.

This project will take what was previously hundreds of fragmented plots of land and transform them into an urban environment that will attract not only the best of the nation but the best of the globe to the area once finished.

In Conclusion

It is important to note that the above two projects have nothing to do with the Olympics. Both projects are the culmination of planning and preparation that stretches back decades, coming to fruition between now and 2022.

At this stage, it is a safe bet to imagine all property that can be bought immediately adjacent or within a 5 minute walk to either project will rise in the high waters together with Mori Building owned land.

Very rarely can one see the future as clear as one can when looking at Toranomon & Kamiyacho station areas.

Click here to see property available for sale near both stations.

 
 
 

Editor’s Note: Adam German is Vice President of Business Development at Housing Japan and a well-known figure in both the marketing and sales side of Tokyo real estate. Originally from Canada, Adam has been behind some of the most successful international residential property services in Tokyo.