That looks neat. Cerezo unveils plans to refurbish Kincho stadium again and increase capacity up to 40k. http://cerezo-osaka.tumblr.com/post/130130418571/the-club-launch-a-project-to-refurbish-kincho
There's not much place there to build also. It will be pretty packed between the street, shrine, railroad and Nagai. But with that price it seems like good addition. The other question is if they need 40k while they can't fill Nagai.
Seems a bit like a waste indeed, especially when you have Nagai Stadium next door. And the argument about toilets... Well, turning a few Japanese-style toilets into Western-styled shouldnt really be a problem! The stadium looks nice and all, and will definitely be more intimate, but with the open solution at the far end ( and the small size of the far end, where the ultras are situated now) one have to wonder if it wouldnt have been better to just build a new stadium where Nagai 2 is now, which is situated some 100-200m further down the park. I like Nagai though, and have had some of my best football experiences there.