onmyoji
October 13th, 2006, 09:30 AM
Matsuzakaya department store ditches Ginza skyscraper project amid opposition
Major department store Matsuzakaya Co. has announced it is giving up plans to build a 190-meter skyscraper opposed by locals in Tokyo's Ginza district, citing a local rule limiting the height of buildings to 56 meters.
The department store announced it was abandoning the skyscraper project at a press conference Thursday on its semiannual financial settlement of accounts for the period ending in August.
"We want to consider what we can do under the restraints of the height limitation," Senior Managing Director Toshiaki Tsushima said.
Matsuzakaya drew up a redevelopment plan for its ageing Ginza store with neighboring landowners and leaseholders. However, when it showed the plans to locals in February this year, they voiced their opposition, saying it would ruin the Ginza cityscape.
Tokyo's Chuo-ku also moved to prevent the building of the skyscraper, and proposed an ordinance to the ward assembly to tighten the "Ginza rule" prohibiting construction of buildings exceeding 56 meters in height. The proposal was expected to be adopted on Friday, putting pressure on Matsuzakaya to revise its plans.
Department store officials said a new construction proposal would be submitted within the year. They said that the new project would not be completed until at least 2011.
Initially, Matsuzakaya had said it would be difficult to ensure profitability of the department store under plans limiting the height to 56 meters, but it later explained that a rise in land prices had given the company prospects for ensuring the project was profitable. (Mainichi)
Major department store Matsuzakaya Co. has announced it is giving up plans to build a 190-meter skyscraper opposed by locals in Tokyo's Ginza district, citing a local rule limiting the height of buildings to 56 meters.
The department store announced it was abandoning the skyscraper project at a press conference Thursday on its semiannual financial settlement of accounts for the period ending in August.
"We want to consider what we can do under the restraints of the height limitation," Senior Managing Director Toshiaki Tsushima said.
Matsuzakaya drew up a redevelopment plan for its ageing Ginza store with neighboring landowners and leaseholders. However, when it showed the plans to locals in February this year, they voiced their opposition, saying it would ruin the Ginza cityscape.
Tokyo's Chuo-ku also moved to prevent the building of the skyscraper, and proposed an ordinance to the ward assembly to tighten the "Ginza rule" prohibiting construction of buildings exceeding 56 meters in height. The proposal was expected to be adopted on Friday, putting pressure on Matsuzakaya to revise its plans.
Department store officials said a new construction proposal would be submitted within the year. They said that the new project would not be completed until at least 2011.
Initially, Matsuzakaya had said it would be difficult to ensure profitability of the department store under plans limiting the height to 56 meters, but it later explained that a rise in land prices had given the company prospects for ensuring the project was profitable. (Mainichi)