Madinah Square, Tel Aviv/ShutterStock
The Beit Vegg company reports today (Wed) that it has begun the construction phase of the Lipsky 18 project in Tel Aviv, after demolishing the old residential building, which consisted of 3 floors and 11 apartments.
The new building that will be built as part of the project will be 7 stories tall and will include 23 housing units.
The company states that the expected completion of the works and occupancy of the project is in about three years.
The project is in District 4 in Tel Aviv and is located on a quiet and green street a short walk from Madinah Square.
The location of the project allows for a high quality of life due to its being pastoral in the heart of Tel Aviv urbanism with proximity to everything the city has to offer - educational institutions, culture, leisure, sports and more, at the same time as accessibility to major transportation routes and proximity to the future light rail lines.
How much will a 2-room apartment in the project cost?
The project includes 2- and 3-room apartments, alongside a 4-room garden apartment, a penthouse and 3-room mini-penthouses.
The size of the apartments will range from 46-50 square meters for a two-room apartment and a 12 square meter balcony, three-room apartments will be 69 square meters including two balconies measuring 12 square meters and 7.5 square meters. All penthouse apartments and the mini-penthouse were sold before the demolition date.
Two basement floors will also be built in the project, which include regular underground parking, private warehouses, a bicycle room, etc.
As of today, there are 5 apartments left for sale in the project, where the cost of a 2-room apartment is offered at a price starting at NIS 3.7 million .
Lipski 18 Demolition event/house and roof
Ronen Ekabia, CEO of Beit Vegg, states: "We are excited about the start of another Beit Vegg project, especially in the shadow of the times.
The demolition of the old building is an essential and important step in the progress of the project.
Our vision as a company to lead to branched urban renewal procedures in the heart of Tel Aviv, Gush Dan and other circles that surround it is making skin and sinew.
This is an exciting process as we are changing and renewing the face of the city and giving the old tenants the opportunity to live in a modern and luxurious residential building suitable for the renewal of the city of Tel Aviv.
The project is in great demand among various target audiences and investors who understand the inherent potential of the project and the high-quality environment in which it is located."
Rabin Architects is responsible for the architectural design.
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