An urban renewal complex in the Kiryat Moshe neighborhood of Rehovot (Photo: PR)
More than 10,1 new apartments: In about six months, the largest urban renewal plan in Israel is expected to begin, as of today, with the demolition of the first building in the oldest neighborhood in Rehovot, Kiryat Moshe.
The urban renewal plan in Kiryat Moshe covers about 500,10 dunams in the southwest of the city and includes the construction of more than 000,1 apartments, which will replace the existing 300,2 housing units.
According to data from the Rehovot Municipality and H.L.R. Rehovot Development Company, in the next two years, construction of 350,36 new apartments in about 31 buildings is expected, alongside massive development of the old neighborhood and the industrial zone, a total of about a quarter of the planned project. This is alongside massive development of the old neighborhood and the industrial zone.
As stated, construction will begin gradually in the next six months, with the expected demolition of the first building at 33-<> Gavrielov Street, and the beginning of construction of the buildings in its place.
The old Kiryat Moshe neighborhood in Rehovot (Photo: Reuven Castro)
In parallel with the construction of thousands of apartments and after the completion of development during this period of vacant land, massive development in the neighborhood is expected to continue, at an investment of hundreds of millions of shekels, including development of infrastructure and the industrial zone, construction of a drainage reservoir, upgrading gardens, construction of the neighborhood's central park, construction of public institutions, headed by the education complex in the David Nadav area, which will begin in the coming months, as well as the construction of three parks and leisure sites. Recreation and education surrounding the neighborhood.
From a transportation perspective, the plan includes the construction of an interchange on Highways 411/410 and the construction of a new train station.
Nissim Salman, CEO of H.L.R.: "The urban renewal plan in Kiryat Moshe is the largest renewal program in Israel, and the first to be supported by an umbrella agreement, the Rehovot Municipality together with the Urban Renewal Authority, the Ministry of Housing and the Israel Authority have worked hard to create creative solutions that will enable the creation of economic feasibility for the renewal of the neighborhood and unprecedented investment in the development of all public space in the old and new neighborhood."
"The allocation of complementary land, along with the provision of grants to developers, are innovative tools that make it possible to reduce congestion in the neighborhood and still create economic evacuation-reconstruction, and we believe that they will be the basis for the neighborhood's success. 11,000 apartments will not be built in one day, but the expectation of construction starts of more than 2300,<> units in the next two years is good news both for apartment owners in the neighborhood who will begin to renew new apartments and for new tenants who choose to live in a planned neighborhood with high transportation accessibility, advanced educational institutions and modern infrastructure."
- Real Estate
- Urban Renewal
- Real Estate
- Urban Renewal