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Clearing Sde Dov: How to do it right? - Walla! Real estate

2023-01-30T08:04:36.509Z


Far from Sde Dov: an airport in Texas is vacated in about a year and a half in favor of building a residential neighborhood of affordable homes. So what happens when the authorities let entrepreneurs and investors take off?


MapleHeights project in Texas (Photo: CityR Group)

The CityR Group, which deals in real estate investments in the USA, reports the completion of the sale of the MapleHeights project in Texas.

As part of the project, a huge airport complex that operated there was evacuated, and infrastructure was established to build a dreamy, smart and green residential neighborhood that includes 900 detached houses.



The project was sold in four phases, with the fourth and final phase completed this month (January 2023).

For the plan for this neighborhood, the company won second place in the competition to design the most beautiful neighborhood in the US.



Uri Frish, entrepreneur, founder and owner of CityR:

"The significant differences between the situation in Israel and the one in the US can be seen by comparing two similar projects: the evacuation of a complex Sde Dov Airport in Tel Aviv which took several decades, in contrast to the evacuation of the airport complex in Texas, which was purchased with the intention of establishing a residential neighborhood in its place and was evacuated in a record time of only about a year and a half."

MapleHeights project in Texas (Photo: CityR Group)

The complex, which covers an area of ​​855 dunams north of the city of Houston, in an area located on a developing axis benefiting from a large positive migration and a high demand for houses, was purchased by the CityR group as an active airport about three and a half years ago with the aim of establishing the necessary infrastructure for the establishment of a new residential neighborhood from A to Z



In light of the high demand in Houston for developed land for construction, already in 2020 the group received all the building permits, the land was divided into lots, and in 2021 a sale agreement was signed with a public construction company, with the aim of building 900 detached houses in the new neighborhood.

Now, as mentioned, the group reports on the successful completion of the sale of the entire project.

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Uri Frisch - entrepreneur, founder and owner of CityR (Photo: CityR Group)

Furthermore, Frish says on the subject that "the story of the evacuation of Sde Dov, which began back in the late 1960s, is known to everyone - and it is still difficult to digest the procrastination surrounding it. In practice, the plan for the evacuation and restoration of the land, which includes an expected 16,000 housing units and commercial spaces, has begun To skin and tendons only a few years ago. As a 'showcase' event for the Sde Dov program, which extends over an area of ​​about 1,300 dunams, a few years ago Citiyar purchased an active airport in North Houston, Texas, in an area of ​​900 dunams."



"In this case, the construction plan was approved a few months after the purchase, and land preparation work began only 12 months after the purchase date. Half a year later, the airport was already vacated and development work began on the land."

Roy Marciano, entrepreneur, founder and owner of CityR (Photo: CityR Group)

Roy Marciano, founder-entrepreneur and owner:

"The inventory of land and houses available for construction in Houston, Texas is somewhat reminiscent of the situation in Israel. In light of the low cost and high quality of life in Houston, there is a high positive immigration to the city and there is a need for tens of thousands of plots ready for construction, so that the demand exceeds the supply by tens of thousands , when there is a shortage of tens of thousands of plots a year and the situation is getting worse in light of the current period."



"We are purchasing precisely in this period characterized by concerns on the part of the entrepreneurs, out of an understanding of the area and the need in the market. For this reason, we manage to find purchase opportunities that did not exist a year ago and thanks to the trust that investors place in us we have the means to purchase aggressively, take advantage of and maximize the opportunities. The segment in which we Workers in the field of infrastructure, intended for housing at affordable prices, benefit from the spirit of government collection and reimbursement of development costs from the municipal authorities."

  • Real estate

  • Real estate magazine

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  • real estate

  • Sde Dov

Source: walla

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