Report: Major Developments in Karuizawa

Karuizawa Station North Exit East Vacant Land Utilization Project

On March 1, Mitsubishi Estate began construction on the “(Tentative Name) Karuizawa Station North Exit East Vacant Land Utilization Project.”

This project utilizes the former Shin'etsu Main Line rail site, which was decommissioned with the opening of the Hokuriku Shinkansen in 1997 and is currently owned by Shinano Railway Co. Located just a one-minute walk from Karuizawa Station, the project aims to leverage this prime location to foster collaboration with the local community and promote revitalization efforts not only in Karuizawa but throughout the entire Shinshu region.

The development will cover approximately 1.3 hectares and include six commercial buildings. The structures, built primarily with steel frames, will be single or two-story (some sections will be three stories), with a total floor area of about 5,400 square meters. Planned facilities include a hot spring, lodging, and dining and retail spaces. The grand opening is scheduled for spring 2026.

Karuizawa Sengataki Area Project

Seibu Holdings, Seibu Realty Solutions, and Nomura Real Estate have signed a basic agreement for a joint development of the "Karuizawa Sengataki Area Project.

This large-scale, mixed-use development will utilize approximately 22 hectares of land owned by the Seibu Group in the "Sengataki Area" of Karuizawa, Nagano Prefecture, envisioning a new generation of resorts. The Sengataki area has a rich history of over 100 years of community development, beginning with the subdivision of the Sengataki Villa area by the Seibu Group in 1919. The project site, located at the heart of the Sengataki Villa area, once featured various facilities, including an ice rink, hotel, and hot springs, though currently, only the "Karuizawa Sengataki Onsen" remains in operation.