Major Project Along the Sobu Line: Completion of Block III of the Minami-Koiwa 6-chome District Type 1 Urban Redevelopment Project in Front of JR Koiwa Station

The Minami-Koiwa 6-chome District Urban Redevelopment Association (Chairman: Tsuyoshi Tsuzuki, hereinafter 'the Association') and its participating members, along with the three companies serving as designated business agents — Nomura Real Estate Co., Ltd. (Headquarters: Minato-ku, Tokyo / President & CEO: Daisaku Matsuo, hereinafter 'Nomura Real Estate'), MIRARTH Holdings Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo / President & CEO: Kazuichi Shimada, hereinafter 'MIRARTH Holdings'), and Shimizu Corporation (Headquarters: Chuo-ku, Tokyo / President & CEO: Tatsuya Niimura, hereinafter 'Shimizu Corporation') — hereby announce that 'FIRSTA*1 III / Proud Tower Koiwa Front' (hereinafter 'the Building'), the facility structure for Block III of the 'Minami-Koiwa 6-chome District Type 1 Urban Redevelopment Project' (hereinafter 'the Project'), has been completed and residents have begun moving in as of March.

The Building is located at the south exit of Koiwa Station and is a mixed-use facility comprising residential units, commercial space, and a public bicycle parking facility for approximately 3,000 bicycles operated by Edogawa City. It follows the completion of 'FIRSTA I' (Block I facility, completed January 2021) and 'FIRSTA II / Proud Tower Koiwa First' (Block II facility, completed May 2022), marking the final block of the Project.

*1: 'FIRSTA' is the town name (district name) for each block of this project, coined from 'FIRST' (foremost), 'STATION' (station / community hub), and 'FESTA' (vibrancy).

1. About the Project

The Association was established as a redevelopment preparatory association in July 2012, received urban planning approval in October 2014, and was granted authorization as a redevelopment association in December 2016. Following approval of the rights conversion plan in December 2018, construction of new buildings in Block I commenced in May 2019.

The Project is divided into three blocks — Blocks I, II, and III — with a focus on continuity between blocks that leverages the station-front location, while developing open community spaces. The Project aims to realize the 'JR Koiwa Station Area Town Development Basic Concept*2' formulated by Edogawa City in January 2009, by creating connectivity and vibrancy with multiple redevelopment and land readjustment projects underway around Koiwa Station, as well as the ring road linking them — thereby improving the residential environment and community safety, and enabling high-density land use to update the area into a mixed-use urban district with residential and commercial functions.

Nomura Real Estate, MIRARTH Holdings, and Shimizu Corporation have been involved in advancing the Project as participating members acquiring residential and commercial reserved floor space, and as designated business agents, since the Association received its establishment authorization in December 2016.

*2: Edogawa City official website (plan revised in 2019): https://www.city.edogawa.tokyo.jp/documents/935/2019.pdf

2. Facility Overview of 'Proud Tower Koiwa Front'

This is a mixed-use redevelopment facility consisting of 33 above-ground floors and 1 basement floor, comprising 367 total residential units (of which 9 are non-sale units), commercial space, and a public bicycle parking facility for approximately 3,000 bicycles operated by Edogawa City. A deck on the second floor connects the building to the adjacent 'FIRSTA II / Proud Tower Koiwa First' (Block II facility), providing pedestrian connectivity to Koiwa Station...