On July 21, Tokyu Corporation and L Catterton Real Estate (a US-based investment company) released details of their planned redevelopment of the Tokyu Department Store in Shibuya. The joint venture will see a 164.8-meter tall mixed-use high-rise containing retail, a small luxury hotel, and high-grade rental apartments.
The 36-story Shibuya Upper West Project is expected to be completed in 2027. The concept is to create an urban retreat tying the bustling Shibuya shopping area with the quiet, and wealthy Shoto residential neighborhood located behind. The adjoining Bunkamura hall will temporarily close from April 2023 while it undergoes large-scale renovations.
Norwegian architecture and design firm Snøhetta is in charge of the project design.
The hotel will be operated by Swire Hotels and will be the first of their The House Collective luxury urban hotels to open in Japan.
Source: Tokyu Corporation News Release, July 21, 2022.
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