The Limited Times

Now you can see non-English news...

All that remains is to choose an entrepreneur: apartment owners in Tel Aviv have published a unique tender for building evacuation - voila! Real estate

2023-05-03T06:21:38.945Z


Apartment owners in North Tel Aviv have published a unique tender to select a developer who will communicate with the apartment owners in the Almagor complex in the Neve Sharet neighborhood in North Tel Aviv, in an agreement to establish an evacuation and construction project


The Urban Development and Renewal Company and the Waxman Govrin Geva company published on behalf of the apartment owners a unique tender for the selection of a developer, who will contact the apartment owners in the Almagor complex in the Neve Sharet neighborhood in northern Tel Aviv, in an agreement to establish an evacuation and construction project.

The complex has a city building plan, which was advanced by the owners of the apartments that are in deposit before it goes into effect.



According to the new IBA in the "Almagor complex" located near the "Atidim" employment area and the Tzahala neighborhood, 104 old apartments will be demolished and a new project will be built that combines structural construction in 9-story buildings and a tower with a height of about 30 stories, and a total of about 260 units "D News. The apartments will benefit from protection and accessibility solutions, an underground parking lot, and more. As part of the plan, a new lot was also allocated for public buildings. The new zoning for the complex was advanced



by the owners of the apartments through the Urban Development and Renewal Company, and the Waxman Govrin Geva engineering company.



The project was managed in the "social model", where the apartment owners are the initiators of the process and are the ones who promote it.

With the completion of the approval phase of the IBA, the apartment owners hold a tender to select a leading developer who will enter into an eviction and construction agreement with them and accompany them in the licensing, eviction and demolition and construction procedures of the new project.

Apartment owners in North Tel Aviv have published a tender to select an entrepreneur for the Pinoy Binoy project (Photo: ShutterStock)

According to Nir Shmol, CEO of the Urban Development and Renewal Company, "There is a lot of interest in the tender as it is a deal with a lot of certainty compared to normal construction clearance deals.

The apartment owners are already unionized and represented and the plan has been approved and in fact it is a combination deal with available land.

In terms of financing, which has become a critical issue following the interest rate hikes in the past year, the project has an advantage because it is expected to go on the market in about two years with the completion of the licensing, so the developers do not need to finance the cost of the land or the construction from now on and pay heavy financing costs until the actual construction begins."



Yossi Shalu, CEO of Waxman Govrin Geva, which manages the project, added: "Because turning to developers with a valid plan and unionized tenants through a tender is an ideal situation where everyone benefits.

The tenants get the best value, but the entrepreneurs also get maximum certainty, saving time and resources on the organization and planning period.

In the Almagor complex, a plan with quality construction, while paying attention and considering the unique location, close to Nahal Pardesim and a magical branch of Yarkon Park.

We are proud of the implementation of the plan and the tender and the fruitful cooperation with the apartment owners."



Architect Gil Shanhav, from Canaan Shanhav Architects, who designed the project, noted that "the architectural design of the Almagor complex combines all the experience we have acquired in the last 15 years in planning urban renewal projects in the Neve Sharet neighborhood. The project will include widening roads, opening a dead-end street which will allow free flow of traffic and relieve traffic jams. The project will affect the entire immediate environment, for example, through the creation of pedestrian paths that will upgrade the connectivity between the streets. The complex will be immersed in greenery, the parking lots will be underground and there will be an integral and harmonious connection with the neighboring complexes."

  • Real estate

  • news

Tags

  • real estate

  • Tel Aviv Jaffa

Source: walla

All life articles on 2023-05-03

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.