Kashiwa City, Chiba Prefecture, will purchase the former site of the Sogo Kashiwa Department Store, which closed eight years ago. The landowner, a major real estate company, will pay 8.6 billion yen for the land.
The purchase cost will be financed by an 800 million yen subsidy from the national government, and the remaining 7.8 billion yen will be covered by drawing down the city's urban development fund. In addition to using this land for the development of a rotary in front of the station, the city envisions using it as land for rebuilding other commercial facilities in the surrounding area.