Download Joint Development at Downtown Rail Stations U.S.

yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Document related concepts
no text concepts found
Table 3.6 Financial Contributions of Each Party in Japanese Projects
Oimachi Station
Metropolitan Plaza
Yotsuya Station
YO (0%)
National Government
YO (0%)
Y200 (2%)
Local government
YO (0%)
Y200 (2%)
Private developer
Y11,600 (96%)
Y1,600 (100%)
Y1,600 (100%)
(Yens in millions)
Table 3.6 represents the cost allocation of the three projects. Out of them, the OSB was
the only project involving a public/private financial partnership. The OSB was awarded the
CIIP fund for the construction costs of the public passageway. Although the YSB also included
a public passageway over the tracks and Metropolitan Plaza included some public facilities, they
did not obtain public funds. The reason the YSB was not funded was that the ClIP did not exist
when the YSB was planned. This was also the reason for the 100% private funding of
Metropolitan Plaza; there was no appropriate acts to fund private development at rail stations.
With respect to the development strategy of the EJR, it adopted both the Land Leasing
Method (LLM) and the Building Leasing Method (BLM). The former was applied to
Metropolitan Plaza and the latter was applied to the OSB and the YSB. There were two reasons
the EJR used different methods. One was that the Ikebukuro Terminal Building Corporation
(ITBC) was founded in 1981, and that the ITBC had begun to manage Hotel Metropolitan in
1985, before the privatization of the JNR. Another reason was that the land under Metropolitan
Plaza was owned by the EJR and others; it was much more difficult to use the BLM where the
site was owned by several landlords.
Second, in terms of the physical planning of joint development, all the projects made
good connections between the stations and the neighborhoods. Both the OSB and the YSB
provided new commercial cores for the station areas and public passageways over tracks as
well. The public passageways played an important role in the revitalization of the station areas
by improving pedestrian traffic between both sides of the stations. On the other hand,
Metropolitan Plaza provided attractive entrances and a public passageway within the building,