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Tets
Rent
Sub-lease
TASBDC
Rent
4
Lease
Y1,600u
dtation
Development
LEGEND
: Public Sector
Private Sector
Capital Contribution
(Yens in millions)
Figure 3.21 Financial Structure of Development for the YSB
3.4.3 Results and impacts
The station facility and the shopping mall were completed in 1988 and in 1990,
respectively. The overall change in the YSB's sales is similar to that in the OSB's sales.
Although the YSB's sales have shown a constant though slight increase, then have not
amounted to what was expected because of the national recession which began in the early
1990s. 2 4 Also this development did not lease big commercial spaces in the neighborhood, since
the gross building area of 31,000 square feet was so small that other commercial development
needed. It did, however, contribute to the maintenance of the historic image of the Yotsuya
area, as did the reconstructed historic Mitsuke Bridge. The Yotsuya area has for a long time
been perceived as a decent downtown area surrounded by historic buildings and structures, and
the YSB project reinforced this perception of it.
24 Interview with Shingo Muraoka, East Japan Railway Company, March 5, 1997.
100
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