Tokyo Tower To Headline New Retail District

Above, Tokyo Tower. Photo by Armand Vaquer.

Plans are underway to make Tokyo Tower the centerpiece in a new retail and cultural development project.

Nikkei Asia reported:

TOKYO -- Opened in December 1958 as a multipurpose radio tower, the 333-meter high Tokyo Tower has stood as a landmark of the capital for over six decades. 

But with the taller Tokyo Skytree (634 meters) opening in 2012, taking over the role as the main broadcasting facility, Tokyo Tower is looking for a new purpose in its second life. 

Real estate developer Mitsui Fudosan has been tasked with developing the area around the red-and-white tower. The company was recently chosen among five bidders by the tower's owner, The Tokyo Tower Company.

The plan involves developing a 25,000 sq. meter area around the tower by 2030. With an eye on recovering international tourism in the post COVID-19 era, the area is set to be one of Tokyo's most iconic shopping districts.

Mitsui and The Tokyo Tower Company will form plans to develop buildings that house retail stores as well as cultural facilities. Mitsui specializes in incorporating parks into its development, and the neighboring Shiba Park, a public park, is expected to play a major role in the project.

The cost of the project and the completion date will be determined in line with the overall recovery from COVID. But the companies expect the new facility to be running by 2030. 

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