| Central Tokyo is undergoing a major transformation. Until recently the city
has tended to expand outwards, stretching further and further into surrounding
areas, but now this trend is reversing as a series of exciting redevelopment projects
revitalizes the center of the capital. One big reason for this is that after the
collapse of the bubble economy, land prices in conveniently located central areas
plunged and began to seem much more reasonable than during the bubble.
The Marunouchi, Shiodome, Shinagawa, and Roppongi districts have been at the heart
of the redevelopment boom, and in all of these cases the projects have involved
not just the construction and renovation of buildings but the remodeling of whole
areas. Another feature of the projects is that they represent a shift in redevelopment
philosophy. Whereas past projects in central Tokyo have concentrated on business
facilities, now the focus is on comprehensive urban development encompassing restaurants
and other commercial facilities, hotels, and residential areas.
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