Five and a half years since the closure of Tsukiji Market in Chuo Ward, Tokyo, redevelopment plans for the approximately 190,000 square meter site in the heart of Tokyo are unveiled. The Tokyo Metropolitan Government has selected a consortium of eleven companies, led by Tokyo-based developer Mitsui Fudosan, through an open call for proposals under the "Tsukiji District Urban Development Project." The project aims to create a facility capable of accommodating 50,000 people in all weather conditions, alongside MICE facilities. An estimated ¥900 billion will be invested in the project.

The consortium is named "ONE PARK×ONE TOWN" and includes Toyota Real Estate, Yomiuri Shimbun Group, Kajima Corporation, Shimizu Corporation, Taisei Corporation, Takenaka Corporation, Nikken Sekkei, Pacific Consultants, Asahi Shimbun, and Toyota Motor Corporation, in addition to Mitsui Fudosan. Two groups submitted proposals.

The redevelopment area covers 194,679 square meters. Apart from the construction and demolition period, a general fixed-term lease of 70 years will be established. The consortium plans to pay an annual land lease fee of approximately ¥10 billion to the Tokyo Metropolitan Government.

According to the proposal of the consortium, a large-scale facility will be constructed in the central part of the site. It is envisioned for use in sports events, concerts, exhibitions, and more. When not in use for events, parts of the concourse will be open to the public for activities such as walking and jogging.

Adjacent to the main facility, a MICE facility will be built, capable of accommodating approximately 1,200 people in a large hall. Through integrated operation with venues such as Tokyo Big Sight and Tokyo International Forum, hosting large-scale international events will be feasible.

A theater hall accommodating approximately 1,200 people will be constructed in the canal transport convenience facility on the eastern side of the site, intended for cultural and artistic activities.

Moving forward, a basic agreement outlining the town planning, development, and operation conditions will be concluded by the end of the fiscal year, with construction commencing on temporary facilities such as food halls on the north side of the theater hall by the fiscal year 2025. A land lease contract will be signed by the end of fiscal year 2026. Construction, except for the office building to be erected on the north side of the theater hall, is scheduled for completion by fiscal year 2032, with all construction expected to conclude by fiscal year 2038. (2024/04/23)