TOKYO (June 6, 2001)--The three companies of NISSHO IWAI CORPORATION, headquartered in Minato-ku, Tokyo and headed by the president Shiro Yasutake, NISSHO IWAI REAL ESTATE CORPORATION, headquartered in Minato-ku, Tokyo and headed by the president Akitoshi Ueno, andHOUSING CAPITAL FIVE CORPORATION, headquartered in Toshima-ku, Tokyo and headed by the president Goro Sakai will launch on the project of constructing a 117-meter twin-tower condo buildings"AIR RESIDENCE PREMIUM TOWERS, " which will house 430 households in two buildings of 32 stories on the ground and one-story underground, in Urayasu City, Chiba Prefecture to complete the AMC Project, a twenty-year-long municipal and private-sector joint effort to develop and modernize the area of Shin-Urayasu Station in Urayasu City. 

Meant to coincide with the completion of the newly planned JR Keiyo Line, the AMC Project is a highly complex urban development project, in which the Urayasu City municipality and Haseko Corporation, headquartered in Minato-ku, Tokyo and headed by Toshihisa Dake are jointly commissioned to develop a new frontal face for the city in an area of more than 14 hectares mostly in the neighborhood of Shin-Urayasu Station. Commenced in 1980, the project has added to the city's urban infrastructure by modernizing "symbol" roads, building the commercial complex "SHOPPERS PLAZA," constructing high-rise office buildings such as the new urban commercial building "MONA SHIN-URAYASU" and hotel facilities such as "URAYASU BRIGHTEN HOTEL" and "URAYASU ORIENTAL HOTEL" and the leisurely and comfortable housing complex "EL CITY SHIN- URAYASU." AIR RESIDENCE PREMIUM TOWERS, which is to complete the AMC Project, is located where the station facilities and the commercial buildings are connected by pedestrian decks. 

The construction of the AIR RESIDENCE PREMIUM TOWERS, completion by August 2003, offers convenient access to downtown Tokyo with two minutes' walk to Shin-Urayasu Station and 16 minutes' ride to Tokyo Station. The sales promotion center for the condo project will open this August. AIR RESIDENCE PREMIUM TOWERS would provide a housing environment which makes it possible to feel always at home with nature even being in the midst of urbanities and live to your own rhythm. This is what the AMC Project alone would be able to accomplish. The entire town offers you livable space which would make you feel as if you were enjoying an urban resort life in California. 

This condo project is going to be the first project in Chiba Prefecture that is eligible for the new Planned Development Design System, (see additional note below), as the size of open space it will provide within its lot translates into relaxed floor area ratios. The open space is among those of the largest size now available in the prefecture, providing the lot with abundant verdure and with fountains and streamlets as well so that the condo project with its twine towers may make a landmark in the area of Shin-Urayasu Station. 


Additional Note
Planned Development Design System; 
This new rule governing building's floor area ratios and heights has been worked out to relax the existing building standards in an integrated manner in which commonly shared, effective and rational, use of larger joined plots of land is encouraged for more open public space to create a better and more livable city environment. This new regulation which has the ministry in charge give specially relaxed floor area ratios and heights subject to the permission of the Council for Architecture applies to the construction of those buildings to be built on a certain size of lot with a certain size of open space available which are approved as sufficiently meeting the requirements of transportation, safety, fire prevention, and health, and also having enough comprehensive attention given to building-to-land ratios, floor area ratios and heights, to facilitate the modernization and improvement of the city environment. (See Japan's Building Standards 59)