Level construction Israel today

Last call for entrepreneurs in Ramat Hasharon: TMA 38 is reduced. A new project on Boaz Street has received a permit

• The existing building on Boaz Street

  Photography: 

  Private group

Produced by the Department of Special Supplements

Against the background of announcements sent by Ramat Hasharon Mayor Avi Gruber to architects and developers working in the city that the quota for approving TMA 38 projects is being reduced - a new project is being launched under TMA 38/2 on Boaz Street in the Hadar district in Ramat Hasharon, in which the groups City Urban Renewal of 27 new apartments in an 8-story building.

This week the building permit was obtained.

This is a TMA project, demolition and reconstruction. As part of this, the old building, with 3 floors and 12 apartments, will be demolished, and an 8-story and 27-apartment building will be built in its place, designed by architect Oded Lavi. Sqm up to 129 sqm, a 3-room garden apartment with an area of ​​103 sqm or 5-room garden apartments.

The apartments are starting at NIS 4.1 million.

The owners of the old apartments will receive in the new building the larger apartments with 25 sq.m.

Construction of the project is expected to begin in early 2021 and occupancy about 3 years later.

This is a second TMA project that these companies have succeeded in approving and promoting in the Hadar Quarter neighborhood.

The first project, also using the TMA 38 method - demolition and reconstruction, is in the early stages of construction and is located on Henrietta Szold Street, where the Sofrin Group has already marketed apartments worth about NIS 46 million.

Want to stay up to date all the time?

Sign up now for the Real Estate Newsletter today

Talking real estate with Ofer Petersburg. Listen to the new podcast >>

Almost a year ago, the mayor, Avi Gruber, sent a message that in some areas of the city the quota set for new apartments under the TMA is nearing completion. This is 3 years after a plan was approved in the city that divides it into areas As part of TMA 38. In the Hadar district and Bialik-Weizmann Boulevard, the promotion of new projects will be greatly reduced.

Tzachi Sofrin, owner of the Sofrin Group, which initiates, manages and builds residential, commercial, employment and logistics projects: "The price of an apartment in the Hadar district has risen significantly in recent years, but the price increase is still far from being realized, as the neighborhood is now undergoing massive urban renewal. And quite a few old buildings have been demolished recently and new projects are being built in their place. "

Produced by the Department of Special Supplements