A large-scale redevelopment is underway around Koiwa Station in Edogawa Ward, Tokyo. Redevelopment buildings have been completed at the south exit, and construction of the facility building is under way at the north exit, with an expected expansion of rental demand. This article analyzes the details of the redevelopment and future prospects from a rental investment perspective.
What Kind of City Is Koiwa?
Koiwa is a retro downtown area with easy access to Tokyo Station in about 17 minutes, known for its low living costs. While the arcade street has many restaurants and shops with high daily convenience, it had lacked a stylish atmosphere for young people.
Why Did Redevelopment Begin in Koiwa?
The weak transportation infrastructure at the north exit was the trigger for redevelopment. While the south exit had a rotary and 8 bus routes concentrated there, the north exit had only one-way narrow roads that were difficult for people to gather. Deliberations on redevelopment began in 2011.
What Are the Area-Specific Redevelopment Plans?
Koiwa Station South Exit
Staged redevelopment is underway in the Minamikoiwa 7-chome and 6-chome areas. Improved circulation through ring road maintenance and mixed commercial/residential development are progressing.
Koiwa Station North Exit
The north exit street is being widened from 9m to 18m, with a station plaza being constructed. Securing bus and taxi entry points, with construction under way on a mixed-use building comprising shops, housing, a nursery school, and parking. The JR Koiwa Station North Exit District Type 1 Urban Redevelopment Project received approval of its rights conversion plan in July 2021 and started building construction in January 2023. According to the Tokyo Metropolitan Government Bureau of Urban Development, the project cost is approximately 73.5 billion yen, the total floor area of the facility building is approximately 94,590 square meters, and there are approximately 731 housing units, with building construction scheduled for completion in fiscal 2026.
Minamikoiwa 6-chome Area
Block I (10 stories above ground), FIRSTA Koiwa, was completed in January 2021, with restaurants, pharmacies, and medical facilities moving in. Block II (22 stories above ground) followed in May 2022 and Block III (33 stories above ground) in March 2026, completing all three blocks.
How Will Rental Demand in Koiwa Change in the Future?
With improved living environment through redevelopment, expansion of rental demand is expected. In Edogawa Ward, about 40% of the population are single-person households, and data shows 90% of those under their 30s live in rental housing, making it an area to watch alongside market trends for prime Tokyo properties.
FAQ
Q. When will Koiwa's redevelopment be completed?
The north exit area started building construction in January 2023, and according to the Tokyo Metropolitan Government Bureau of Urban Development, building construction is scheduled for completion in fiscal 2026. In the south exit area, Block III of the Minamikoiwa 6-chome district was completed in March 2026, completing all three blocks.
Q. When is the right time to start rental investment in Koiwa?
The current stage before redevelopment completion is relatively affordable and easy to enter. After completion, land prices and rents are expected to rise.
Q. Will Koiwa's public safety improve?
With urban development through redevelopment and resident turnover, improvement in public safety is expected.
