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2023.12.1

Real Estate

#Real estate #City development#Reconstruction

Believe that hard work will pay off.
A multi-purpose apartment building reconstruction project carried out with consideration for the aspirations of each individual.

Messenger

Y.A.

Company / Department
Takara Leben Co., Ltd.
Urban Development Business Headquarters Urban Development Business Department
Urban Renewal Department

Project

Could you please give us an overview of this project?

This project utilizes the Apartment Building Reconstruction Facilitation Act and the system of the Excellent Buildings Development Project. Our company was officially selected as a project partner in May 2018, and has been cooperating in the project to pass the reconstruction resolution through construction planning, consensus building activities, etc.
The site is conveniently located just a one-minute walk from the west exit of JR Odawara Station, and the lower floors of the building were non-residential, commonly known as the "Shinkansen Building," and a 13-story apartment building with 89 residential units stood there. However, the building was approximately 45 years old and was showing signs of deterioration, and it lacked earthquake resistance, so Manyo Club Co., Ltd., the leading landowner, took the lead in seeking business partners. Proposals were received from multiple companies, and our proposal was ultimately selected, which led to us becoming a business partner and participating in this project.

What aspects of your company were evaluated and why were you selected as a business partner?

It seems that they appreciated our speed in everything we did. We made it a point to respond quickly to any questions or concerns from the landowners, and by shortening the time it took to reach an agreement, we were able to create and propose a schedule that would allow the landowners to feel at ease and move into their new apartment as soon as possible. I think it was this attitude that made the landowners feel that "we are taking them seriously."

What are the characteristics of the building and its location?

The site of this project faces the rotary at the west exit of Odawara Station, where the Shinkansen ticket gates are located, and is the site of a building well known to all Odawara residents, so we pursued a plan and design that would make it a landmark of the west exit. The lower floors are planned to be occupied by commercial and medical facilities, which we hope will create a lively atmosphere at the base of the building, leading to improved appeal and revitalization of the west exit.
In addition, because this project is being carried out with the cooperation of the local government and the reconstruction association acting as the implementing body, the local government requested that the project advocate safe and secure urban development, including environmental improvement of the block. Given this background, we approached the project with the desire to create a building that would not only benefit the landowners, but also contribute to urban development around the west exit of Odawara Station.

LEBEN ODAWARA THE TOWER exterior CG projection

Points

What points did you pay particular attention to throughout the project?

This project combined the Apartment Reconstruction Facilitation Act and the Excellent Buildings Improvement Project System, and was highly challenging. Even the slightest delay in the schedule could have affected the granting of subsidies. For this reason, close cooperation with the project stakeholders and the fulfillment of each of their roles were extremely important. I believe that the key to the success of this project is for all involved parties to work together toward reconstruction.
In addition, because the Shinkansen Building was an aging building that was at risk of not being earthquake-resistant, the management association of the Shinkansen Building had been debating rebuilding it for many years. Before the decision to rebuild was made, a relatively large earthquake occurred in various areas, which appears to have been the catalyst for further momentum for rebuilding among the landowners. With these feelings in mind, we particularly pursued safety and security. These details were appreciated by the landowners as well as those who purchased the condominiums, leading to the successful sale of the units before construction was completed.

What was the most difficult thing you faced?

I myself had very little knowledge or experience in real estate because I had originally worked in a different industry, and I recall many memories of the struggles I faced. However, my superiors gave me careful guidance and pushed me to "try my best and become a business partner," so I can confidently say that I was able to overcome the difficulties.

What did you pay attention to when building relationships with landowners?

Even before the project partner was selected, we held many explanatory meetings for the landowners. However, each landowner has different positions and concerns. Therefore, we continued to work steadily, visiting dozens of landowners one by one, carefully explaining about reconstruction, and listening to their concerns about taxes and inheritance. One landowner decided to give up on acquiring floor space in a new apartment due to inheritance and lack of funds, but we supported him by helping him find a new place to move to and a moving company. It was a difficult job, but if the reconstruction resolution could not be approved by more than four-fifths of the landowners, the reconstruction association could not be established, and the project itself would have to be restarted, and the landowners would have to continue living in an apartment that was not earthquake-resistant while feeling anxious, so we worked with a strong determination not to give up, and we also wanted to "alleviate the landowners' anxiety even a little." These efforts paid off, and we were able to achieve a 97% approval rate for the reconstruction resolution.

Do you feel that you have grown as a person through this project?

The work on this project was wide-ranging, from consensus building activities to building design plans, smooth construction coordination, post-construction management, and administrative consultations. By working on the project with people who specialize in each field, I was able to deepen my knowledge in a variety of areas. I also feel that my experience on this project has given me the confidence to proactively tackle and take on difficult projects.

Please tell us about an episode that made you particularly happy.

When the landowner said to me, "I'm glad you were there," and "I was able to talk openly with you because you were there," I felt that I was being recognized and was very happy. I realized that it is important to think from the other person's point of view in order to build a relationship of trust.

What do you want to work on in the future?

As with this project, we want to continue to explore how we can help landowners with the problems they face. Because reconstruction and redevelopment projects involve the government, we want to approach them not as a standalone project, but as part of a larger framework of regional revitalization and urban development, and work to make optimal proposals for landowners and local residents.

"To design sustainable environments for a happier future for both people and our planet." 

 What does this mean?

We believe that promoting apartment reconstruction and redevelopment projects will help resolve national issues, contribute to revitalizing regional cities, and help create safe, secure towns, thereby supporting the healthy future of all involved parties.

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