Nomura Real Estate Development Co., Ltd. and Others Complete Final Block of Mixed-Use Redevelopment in Front of JR Koiwa Station

Proud Tower Koiwa Front, Block III of the Minami-Koiwa 6-Chome District Type 1 Urban Redevelopment Project, in which Nomura Real Estate Development Co., Ltd., MIRARTH HOLDINGS, Inc., and SHIMIZU CORPORATION are participating, has been completed, with occupancy beginning in March 2026. The mixed-use property comprises a 33-story condominium building with 367 units for sale, together with retail space and a public bicycle parking facility for approximately 3,000 bicycles. It is the final block of the redevelopment, following Block I in 2021 and Block II in 2022. Total project cost for the three blocks combined is approximately JPY 52.3 billion, and the site area for the overall district is approximately 1.3 hectares.

The property is an RC structure with partial steel construction and a site area of approximately 1,516 tsubo (approx. 53,954 sq. ft.). Unit layouts range from 1LDK to 4LDK, with exclusive areas ranging from 55 to 97 sq m (approx. 600 to 1,050 sq. ft.). A second-floor deck connects the building to Proud Tower Koiwa First, the adjacent Block II development with 222 units, creating a pedestrian route from the station’s south exit to the Flower Road shopping street.

In the area surrounding Koiwa Station, in addition to this project, Mitsui Fudosan Residential Co., Ltd. is developing Park City Koiwa The Tower on the north side of the station, a 30-story condominium with 731 units scheduled for completion in 2027, while on the south side Nippon Steel Kowa Real Estate Co., Ltd., Sumitomo Corporation and others are advancing the Minami-Koiwa 7-Chome Ekimae District project, a 44-story development with approximately 550 units scheduled for completion in fiscal 2030. With total supply across the three districts exceeding 1,600 units, the area stands out even within Tokyo as a rare location where multiple large-scale redevelopment projects are progressing simultaneously on both the north and south sides of the station.

Key Facts

• Property Name:

  FIRSTA III / Proud Tower Koiwa Front

• Developer:

  Minami-Koiwa 6-Chome District Urban Redevelopment Association

• Seller:

  Nomura Real Estate Development Co., Ltd., MIRARTH HOLDINGS, Inc., SHIMIZU CORPORATION

• Location:

  2354 Minami-Koiwa 6-Chome, Edogawa Ward, Tokyo (lot number)

• Nearest Station:

  3-minute walk from Koiwa Station on the JR Chuo-Sobu Line

• Completion:

  March 2026

• Number of Floors:

  33F / B1

• Site Area:

  Approx. 1,516 tsubo (5,012.37 sq m) (approx. 53,954 sq. ft.)

• Total Units:

  367 (including 9 non-for-sale units)

• Unit Layouts:

  1LDK to 4LDK

• Exclusive Area:

  55.76 sq m to 97.57 sq m (approx. 600 to 1,050 sq. ft.)

• Design and Construction:

  SHIMIZU CORPORATION