Outline of

“UMEKITA TOD Project”

- Install the ideal urban functions required
in Osaka CBD Area -

File No.76

Urban Renaissance Agency (UR)

Location UMEKITA TOD Project

Nakatsu
district

Phase 2 Phase 1
”Grand Front Osaka”

Shin-Umeda
Chayamachi
district
5 distinctive commercial districts
district
4 railway companies
9 rail lines
Osaka Stn.

2,400,000
passengers/day

Railway
Osaka Stn. Railway (Underground)
Nishi-Umeda Front district
district Urgent Redevelopment area
Urgent Redevelopment core area
Area for phase 1 (Approx. 21.4acres)
Aroundn Osaka Station Area (CBD) Area for phase 2 (Approx. 59.2acres)
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Pictures of the project site UMEKITA TOD Project

Before the development Status at now Future images

Freight station
Osaka station

1958 2020 2028

Phase 1 area
1985 Public park

2004 Entrance of the site New buildings

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Step to realize UMEKITA UMEKITA TOD Project

To Success UMEKITA TOD Project Enhancing the Value of Whole UMEDA Area was necessary

2002 2004 2007

“Urgent Improvement Plan “Osaka station north “Grand UMEDA Vision”
for Urban Renaissance“ area development prepared by
designated by Cabinet basic plan” Local business circle
prepared by Osaka City

Deregulation, such as FAR relaxation, Local government made the master Presenting the ideal urban functions
height of building relaxation and so on, Plan. needed for the UMEKITA area in
can be allowed in designated area. KANSAI region

UR as a coordinator contribute to the creation of an ideal urban development.

Roles played by UR
1. Cooperation at the initial stage planning. (involved to 3 Plans)
2. Developing Implementation Plan
for sequential urban redevelopment also forming agreements of involved parties.
3. Land acquisition
Acquisition and long-term possession of a seed lot that sustains the sequential reconstruction.
4. Supplying Land for Constructions
As an executor of Land Readjustment Project, consolidating land plots and developing infrastructure. 4
Methods for leading “Grand UMEDA Vision” - 1 UMEKITA TOD Project

Land acquisition by UR

From the Kansai Economic circle, there was a request to avoid subdividing
the land to realize the Umeda Area concept.

UR prevented subdividing of the land by acquiring a part of the land in

advance.
In addition, the possession of land reduced business risk of developers.

Reduce land holding cost by government support (long-term and low

interest loan, “FILP”).

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[Reference] FILP - Fiscal Investment and Loan Program UMEKITA TOD Project

Including UR

http://www.mof.go.jp/english/filp/filp_report/zaito2010/
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Methods for leading “Grand UMEDA Vision” - 2 UMEKITA TOD Project

Land readjustment

Proper infrastructure development is necessary to raise

the potential of the Umeda Area

UR received a request from Osaka City and implemented infrastructure and

building lot development.
(Land Readjustment )

UR is stipulated as one of the enforcers in the Land Readjustment Law.

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Risk sharing with private companies UMEKITA TOD Project

Construction Completion

Land acquisition phase Construction phase Operation phase

Development risk (Taken by the developer .
Financial institutes are not acceptable (to take the risks))

Land acquisition risk

License risk, Period / Cost excess risk

Major
project risks Market risk (In addition to developers, financial institutions can take the risks.)

Future revenue change risk Revenue change risk

Long-term and large land
acquisition risk such as many
numbers of landowners.
Municipal adjustment Risk of lowering of future income
Declines in
risks such as will increase, making it difficult to
real estate prices
permission procedures. obtain business finance.

Private Developer
UR ・Building construction（order）
Risk burden ・Land acquisition
and role ・Sale or Lease
・Infrastructure development
・Building lot development
Government
support long-term and low interest loan

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Town management in GRAND FRONT OSAKA (Phase 1) UMEKITA TOD Project

A requirement for developer to establish a town management organization (TMO)

as a necessary condition for selection as a developer.

TMO undertake various activities to enhance the value of UMEKITA area.

Bus service Rental bicycle Festivals

Landowners, stakeholders
Maintenance and cleaning
Make the best use of Share of expenses of facilities.
Umekita plaza
Lacal government (Osaka City)
Crime Prevention.
Routine maintenance of
pedestrian space Application Approval Subsidy
Measures against abandoned
TMO bicycle
Road occupancy by
pedestrian space Area management activities
<Independent revenue sources> <subsidy>
Sidewalk café Attract customers which Enhance the Value of the area
High quality management of
Advertisement business utilizes public/private space Area branding
public/private space
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Land value increase at UMEKITA area UMEKITA TOD Project

Land Value Land Value

30,000,000 Total number of visitors
(Initial annual target: 36.5 million/year)

25,000,000
26th 4, 2013 (Opening day only) 0.34million
25th 5, 2013 (1 month after) 7.61Million
25th 4, 2014 (1 year after) 53million
20,000,000
6th 4, 2015 (2 years after) 100million
1st 3, 2017 (4 years after) 200million
27th 1, 2018 (5 years after) 250million
15,000,000
Land Readjustment Completion
March,2013
More than 50 million people visit UMEKITA
10,000,000 area every year.
It is important to enhance the value of the
area through the redevelopment project and
5,000,000 the attractiveness of the area through Town
Grand Front Osaka
(UMEKITA Phase 1) OPEN Management.
April,2013
0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Calculation condition of Land value
Before January,2012 Land price rose due to Land Readjustment project, expansion of area of block,
Area:7,260sqft
Road conditions: Width 24.3ft expansion of front road width, and increase of FAR by Urban Renaissance
FAR:400% Special Areas designation.
After January,2013 The Land Readjustment project expanded the block area and the width of the
Area:117,460sqft front road widened.
Road conditions:3 way Land prices rose as a result of implementing these appropriate infrastructure.
FAR:800% 10