Completion of Block III of the Minami-Koiwa 6-chome District Type 1 Urban Redevelopment Project

The Minami-Koiwa 6-chome District Urban Redevelopment Association (Chairman: Tsuyoshi Tsuzuki; hereinafter "the Association") and participating members and specific business agents Nomura Real Estate Co., Ltd. (Headquarters: Minato-ku, Tokyo; President: Daisaku Matsuo), MIRARTH Holdings, Inc. (Headquarters: Chiyoda-ku, Tokyo; Representative Director: Kazuichi Shimada), and Shimizu Corporation (Headquarters: Chuo-ku, Tokyo; President: Tatsuya Niimura) are pleased to announce the completion of "FIRSTA*1 III / Proud Tower Koiwa Front" (hereinafter "this building"), the facility building for Block III of the Minami-Koiwa 6-chome District Type 1 Urban Redevelopment Project (hereinafter "this project"), with occupancy scheduled to begin in March.

Located at the south exit of Koiwa Station, this building is a mixed-use facility comprising residential units, commercial space, and a public bicycle parking lot for approximately 3,000 bicycles operated by Edogawa Ward. This follows the completion of "FIRSTA I" (Block I facility building) in January 2021 and "FIRSTA II / Proud Tower Koiwa First" (Block II facility building) in May 2022, marking the final block of this project.

*1: "FIRSTA" is the town name for each block of this project, a coined word combining "FIRST," "STATION," and "FESTA" (vibrancy).

1. About this Project

The Association established a redevelopment preparation committee in July 2012, received city planning approval in October 2014, and obtained authorization for the establishment of the redevelopment association in December 2016. Following rights conversion plan approval in December 2018, construction of Block I began in May 2019.

The project plan was divided into Block I, Block II, and Block III, focusing on continuity between blocks utilizing its location in front of the station, while developing spaces open to the community. In order to realize the "JR Koiwa Station Area Urban Development Basic Concept*2" formulated by Edogawa Ward in January 2009, this project aims to create vibrancy and walkability in conjunction with multiple redevelopment and land readjustment projects underway around Koiwa Station and the ring road connecting them. It seeks to improve the living environment and regional safety and security, and upgrade to a mixed-use urban area with residential and commercial functions through advanced land utilization.

Since receiving authorization for the establishment of the Association in December 2016, Nomura Real Estate, MIRARTH Holdings, and Shimizu Corporation have been involved in promoting this project as participating members acquiring residential and commercial floor space and as specific business agents.

*2: Edogawa Ward Website (Plan revised in 2019) https://www.city.edogawa.tokyo.jp/documents/935/2019.pdf

2. Facility Overview of "Proud Tower Koiwa Front"

A mixed-use redevelopment facility consisting of 33 floors above ground and 1 below, featuring 367 total residential units (including 9 non-sale units), commercial space, and a public bicycle parking lot for approximately 3,000 bicycles operated by Edogawa Ward. A deck provided on the 2nd floor connects to the adjacent "FIRSTA II / Proud Tower Koiwa..."