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Toranomon KT Building Redevelopment Project Secures Approval to Establish Condominium Redevelopment Association

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Toranomon KT Building Redevelopment Project Secures Approval to Establish Condominium Redevelopment Association

Toranomon KT Building Redevelopment Project Secures Approval to Establish Condominium Redevelopment Association

Nippon Steel Kowa Real Estate has received approval from Minato Ward, Tokyo, to establish the condominium redevelopment association for the Toranomon KT Building Redevelopment Project, for which the company serves as a participating association member. The developer has been actively involved in condominium redevelopment, and this marks its 31st approved association establishment.

The existing Toranomon KT Building, completed in May 1979, is a 10-story mixed-use condominium with 24 residential units and one retail/office unit. A 2013 seismic assessment determined the building to be at high risk of collapse, and the property faced issues including aging infrastructure and insufficient reserve funds for repairs. Following approval at the December 2024 redevelopment resolution meeting—with unanimous participation from all rights holders—the association was formally established.

A key feature of the project is the joint redevelopment incorporating the adjacent east-side parcel. The original site, approximately 90 tsubo (approx. 3,210 sq. ft.), was both small and irregularly shaped, making agreement difficult due to the impact on construction costs under current regulations. The joint redevelopment expands the site to approximately 111 tsubo (approx. 3,960 sq. ft.), increasing the Gross Floor Area from 552 tsubo (approx. 19,680 sq. ft.) to 855 tsubo (approx. 30,420 sq. ft.). The total unit count will rise from 25 to 45 all-residential units. The new building will be a 14-story reinforced concrete condominium, scheduled for completion in March 2029.

The company is also strengthening its presence in the redevelopment field, with construction scheduled to begin in October 2025 on a 576-unit large-scale condominium redevelopment project in Funabashi, Chiba, where it also participates as an association member (related article: Large-Scale 576-Unit Condominium Redevelopment Breaks Ground in Funabashi by Nomura Real Estate et al.). With more than 1.98 million condominium units in Japan expected to exceed 40 years of age by 2030, revitalization of aging housing stock has become a major policy priority. Since leading the nation’s first full residential condominium redevelopment in 1986, the company has remained a key driver of the sector.

Key Facts

  • Project Name: Toranomon KT Building Redevelopment Project (name after redevelopment TBD)

  • Developer: Toranomon KT Building Condominium Redevelopment Association

  • Participating Association Member: Nippon Steel Kowa Real Estate Co., Ltd.

  • Location: 21-3, 21-4 Toranomon 5-chome, Minato-ku, Tokyo

  • Nearest Station: Kamiyacho Station, Tokyo Metro Hibiya Line — 1-minute walk

  • Completion: March 2029

  • Number of Floors: 14F

  • Site Area: approx. 111 tsubo (approx. 3,960 sq. ft.)

  • Gross Floor Area: approx. 855 tsubo (approx. 30,420 sq. ft.)

  • Planned Unit Count: 45 units

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