On February 9, Odakyu Electric Railway announced that it will be working together with Tokyu Land on the 200 billion Yen redevelopment of the former Odakyu Department Store near the west exit of Shinjuku Station.

The 200 billion Yen+ (US$1.7 billion) project will see a 260-meter tall, 48-story office building with construction to start this October. Odakyu will provide the land, while Tokyu will be in charge of developing it. Once complete, the two companies will share ownership. 

The Shinjuku main building of the Odakyu Department Store opened in 1967. The 14-story building was designed by Junzo Sakakura, a pioneer of Japan’s post-war modernist architecture.  The store will remain open until September 2022. Several brand shops and food stores will be relocated to the nearby Shinjuku West Exit HALC building, which opened in 1962.

Completion of the new project is expected sometime around 2029.

Odakyu News Release, July 16, 2021.
The Nikkei Shimbun, February 9, 2022.