The area around Shibuya Station has undergone a remarkable transformation in recent years. One of the most notable redevelopment projects is the Dogenzaka 2-chome South Urban Area Redevelopment Project Type 1. The project, in which Mitsubishi Estate is a participating partner, will create a new network linking Dogenzaka 1-chome and 2-chome, and will make a significant contribution to the value of the Shibuya area.
As someone in the real estate industry, I have been paying close attention to the progress of this redevelopment project. I believe that the project is of great significance as an initiative to promote the revitalization of the entire area by creating a new venue for the exchange of human resources, rather than simply constructing a building.
(Taken from the Tokyo Metropolitan Government website)
Project Overview and Progress
This project is a Type 1 urban redevelopment project underway in an area of approximately 0.8 ha in Dogenzaka 2-chome, Shibuya Ward. The project consists of a high-rise building (office) with 30 floors above ground, 3 floors below ground, and a height of approximately 155 meters, and a mid-rise building (hotel) with 11 floors above ground, 2 floors below ground, and a height of approximately 60 meters. The total area of the building is approximately 87,100 m2.
The demolition of the existing building was conducted from February to December 2023, and the demolition of the basement and construction of the new building began on January 16, 2024.
Formation of a New Network Connecting People to People
A notable feature of this project is the creation of a north-south network linking Dogenzaka 1 and 2 chome, with an 850 m2 plaza and a 50 m long greenway at the nodes of the network. This space is intended to function not as a mere passageway, but as a place where people can interact, relax, and disseminate information.
New value brought about by diverse functions
Office Building: Highly Functional Space for Diverse Work Styles
The office building boasts excellent accessibility, directly connected to Shibuya Station on the Keio Inokashira Line, and is a highly functional office building with a leasable area of over 1,500m2 on each floor. The building aims to provide a variety of workspaces to suit a wide range of companies and work styles.
Today's business environment is rapidly changing, and the functions required of offices are also diversifying. This office building, which combines space design that enables flexible work styles with advanced functions, will be a place that draws out the growth of tenant companies and the creativity of their employees. We expect this location to embody our belief that "human resources are our most important asset.
Hotel Building: A space to enjoy the chaos of high-quality Shibuya
The mid-rise building will house TRUNK (HOTEL) DOGENZAKA (tentative name), operated by Take and Give Needs Co. In addition to approximately 120 to 130 guest rooms, this luxury boutique hotel will target adults who are used to having fun and will feature a wealth of entertainment facilities, including one of the area's largest rooftop pools, a rooftop restaurant and bar, and a spa offering the latest wellness experiences.
The hotel is scheduled to open in the summer of 2027.
Toward Sustainable Development for the Future
We hope that the "Dogenzaka 2-chome South Urban Area Redevelopment Project" will be more than just the construction of new buildings; it will be a place that creates new value by connecting people to people and people to the city.
We hope that this project will become a new landmark in Shibuya, a city rich in diversity and creativity, and contribute to the sustainable development of the area. Through our real estate business, we at INA will also pursue the growth and enrichment of human resources and continue to be a company that is needed by society.
Community development is people development. With this in mind, we will continue to watch over the new future of Shibuya.
