The Premier International Club in Asia
Redevelopment Project
Questions
1. What is the current status of the Redevelopment Project?
2. Have we brought in experts to help us with such a large and complex undertaking?
3. How have Members been involved in the Redevelopment process?
4. How can I contribute to the Redevelopment project?
5. What can I expect from the new Club?
6. How is the Club paying for the Redevelopment?
Answers
1. What is the current status of the Redevelopment Project?
The architects are set to finalize plans for the new Club at Azabudai in November or December. Construction of the temporary Club at Takanawa is on schedule and relocation will take place between December 26 and January 11. The Club will remain at Takanawa through construction of the new Club at Azabudai, which is expected to take approximately 33 months.
2. Have we brought in experts to help us with such a large and complex undertaking?
Recognizing this as the largest project in the history of the Club, we have assembled an expert team to help guide us through the process. The Redevelopment Office is headed by Alistair Gough, who has more than 20 years of experience in project management and construction. The Club has also hired Nikken Sekkei Management Solutions, Japan’s largest independent planning, engineering and architectural firm, to work with the Redevelopment team.
As the Redevelopment partners, the Long Range Planning Committee (LRPC) selected some of Japan’s most distinguished property firms, Mitsubishi Estate Co., Mitsubishi Jisho Sekkei and Takenaka Corp., who have formed the TMT consortium. This consortium was selected after exhaustive due diligence reviews of 16 potential candidate firms and interviews with Club Members.
The Club has also retained the services of the world-renowned firm of Pelli Clarke Pelli as master design architects for the building and all interiors. In addition, a number of specialist consultants have been hired to advise on such issues as security, IT, multimedia and kitchen design.
Please see the “Project Team” in the “About TAC 2010” section of this website for further detail on the professionals involved in our Redevelopment.3. How have Members been involved in the Redevelopment process?
The project has been developed by the Members on the Long Range Planning Committee (LRPC) in close consultation with the Club committees, representing nearly 300 Members.
There have also been a wide range of outreach efforts to the Membership, including regular e-mail updates, Town Hall meetings and Focus Group sessions to inform the Membership and seek feedback and suggestions.
4. How can I contribute to the Redevelopment project?
Membership feedback is important to ensure that there is full discussion on designing and building a Club to meet the long-term needs of the Membership.
Members are encouraged to share their input on the Redevelopment project and facilities at the future Club. Please approach Club Management or e-mail us at 2010feedback@tac-club.org.
5. What can I expect from the new Club?
The goal is to offer state of the art services and facilities to meet the changing needs of Members well into the 21st century. The demographic make up and the needs of the Membership have changed greatly over the years and the new Club at Azabudai and the temporary facility at Takanawa, among other improvements, offer additional resources for children and casual adult activities and expanded parking.
The “Design Concepts” in the “Azabudai” section of this site provide a more complete look at what could make up the Club of the future. Please remember that these are only design concepts and subject to more discussion and Member input.
6. How is the Club paying for the Redevelopment?
The Redevelopment project is funded by a combination of operation cash flow, rent (kenriken) payment from our development partner and debt. There is no plan to raise dues or otherwise impose assessments to pay for the project on those who were Members at the time of the Redevelopment vote (May 23, 2006).
The Finance Committee has worked closely with the Club’s Finance Department and with the LRPC to ensure that the project is financially sound and is the best way to secure the near, medium, and long term futures of the Club.
Full financial information on the project is available in the project booklet, which is available for download on this site.
7. I have heard that the Club is giving “excess land” to a developer to help pay for the project. What excess land does it have?
No land is being sold or given to a developer. A portion of the extra land at Azabudai is being leased to the TMT consortium partnering with the Club, under a 53 year fixed term lease, for the construction of a residential condominium building. The Club acquired the neighboring Azabu Towers complex at an attractive price in 2001 and the Redevelopment project encompasses this area, allowing increased flexibility.
The total lease revenue (kenriken) is projected to cover the cost of construction of the new Club facility, although the Club is also borrowing funds to cover the total cost of the Redevelopment project. The Club at all times maintains ownership of the entire Azabudai site.