Possible plans for a 66-storey apartment building in Shinjuku
According to a recent article in the Shinjuku Shimbun, there are plans for two 60+ storey apartment buildings in Nishi-Shinjuku. A recent press release by the Real Estate Economic Institute suggests that the project will include two residential towers - a 66-storey and 50-storey tower containing a total of 2,500 apartments.
The Nishi-Shinjuku 3 Chome West District Redevelopment is located directly to the west of Shinjuku Park Tower (52 storeys; 235m). Construction is tentatively scheduled to start in 2019.
Redevelopment discussions began back in 1993, but plans have been changed and delayed over the years. The original plans drawn up for this site in 2000 included four towers - a 77-storey office tower (339m), 2 x 66-storey residential towers (245m) and a 50-storey residential tower (190m). There was even talk of adding a new train station between Shinjuku and Hatsudai Stations on the Keio Line, or extending an underground pedestrian passageway to provide direct access from Shinjuku Station. However, obtaining consensus among landowners and acquiring the necessary parcels proved a difficult task. The project was delayed and eventually abandoned after the economic downturn in 2008.Read more
Scandal-ridden site in Shinjuku up for public auction
Due to the messy history behind this land, most people had given up on the thought of ever seeing this site redeveloped. However, the land is being put up for public auction on February 17, 2015, by the Tokyo Tax Office with a minimum bid set at 2.19 billion Yen (18.5 million USD).
The Shinjuku Building Incident
The site was once home to the Shinjuku Building - a 12-storey multi-tenant building built in 1983 and demolished in early 2011.Read more
Tokyo City Hall facing 76 billion Yen repair bill
The 22-year old Tokyo Metropolitan Government Building (aka Tokyo City Hall or 'Tocho') in Shinjuku is facing a large-scale maintenance and repair bill estimated to cost 76.2 billion Yen (approximately 783 million USD).
Designed by architect Kenzo Tange, the government building was completed in 1991 at a cost of 156.9 billion Yen. The 243m tall building was once the tallest in Japan. Read more
Korea Town leads to rise in land values
The South Korean pop culture boom in Shinjuku's "Korea Town" has led to a large increase in surrounding land values.
According to the 2012 Koji-Chika assessed land values, the Shinokubo area in Shinjuku which has a large South Korean population has seen land values increase by 1.7% over the past year. While the nationwide residential land values have fallen by 2.3% and 3.1% in business districts, Korea Town has managed to escape from the declining land values.Read more