Redevelopment of Former Site of Tokyu Department Store Main Store Begins

On March 11, construction began on a new redevelopment project on the site of the former main store of one of Japan’s major department stores, Tokyu Department Store.

The site is located in the heart of Shibuya, but the existing buildings have already been demolished after the department store closes in January 2023.

The redevelopment project is being undertaken by Tokyu, Tokyu Department Store, and L Catterton Real Estatenh, a real estate development and investment company established by the LVMH (Moet Hennessy Louis Vuitton) group.

The new facility is expected to have four basement levels and 34 floors above ground. In addition to the commercial area (B1 to 6 floors above ground), the facility will house The House Collective (8 to 17 floors above ground), a hotel brand by Swire Hotels, which operates luxury hotels in Hong Kong, China, and the United States, and rental residences (18 to 33 floors above ground). This will be the first time Swire Hotelsh has opened in Japan.

It has also been announced that Bunkamura The Museum, a museum operated by Tokyu Bunka Mura, will expand and relocate from the Bunkamura cultural complex to the seventh floor of this new facility.

Construction is scheduled to be completed in FY2029, two years later than originally planned due to labor shortages in the construction industry.

(source) https://news.yahoo.co.jp/articles/288bb077496c7dde79341b81a67b1dca14bed33e