In collaboration with Avni Derech Group
Anyone who strolled through the northern streets of the Kiryat Yuval neighborhood in Jerusalem about a decade ago could not fail to see the potential inherent in the place.
On the one hand, high-rise apartment buildings that include small housing units for a low-income population, and on the other hand, a neighborhood located at the top of a ridge at a height of about 800 meters above sea level, one of the highest in Jerusalem, characterized by circular streets that surround the neighborhood and the sloping wadi and provide views from all directions.
It was only a matter of time until the neighborhood, which was characterized by old apartment buildings, four-family houses and two-family houses, would become an attraction for entrepreneurs.
Today, many projects of urban renewal and building clearance are being promoted in the neighborhood, which will double the population of the place within two decades from about 24,000 today to about 45,000 residents.
The plans are expected to add over 3,000 housing units in new construction and demolition projects, in addition to additional plans in the drawer amounting to about 4,000 units to be built by 2040.
The attractiveness of the Kiryat Yuval neighborhood can be learned from a simple deal that was signed a few months ago at 14 Bolivia Street. At that time, a 66 square meter apartment was sold for about NIS 1.6 million, a price that reflects a value of about NIS 24,000 per square meter.
By purchasing the apartment, the buyer earned the right to a new apartment worth about NIS 700,000 more today, with the building expected to be demolished within about four months.
Imaging: Viewpoint,
The construction plans in Kiryat Yuval are being approved at a dizzying pace.
In recent months, the district committee approved a plan for urban renewal in the Olswanger complex in a neighborhood that covers an area of about 50 dunams.
The plan includes the demolition of 8-story buildings each containing about 320 housing units and the construction of about 1,200 housing units in 12 buildings of 7 to 22 stories.
The plan includes another 2,000 square meters for employment areas, and about 28,000 square meters for public buildings to be erected on the fronts of the buildings.
The peak of the construction will come to fruition in a glass building, or as it is called: "The Burj Khalifa of Jerusalem" which will rise over 40 floors.
Eli Blumenthal, Director of Urban Renewal Avni Derech:
"Similar to other countries in the world, urban renewal is one of the most important issues on the planning agenda in Israel, in general and in Jerusalem, in particular. Urban renewal has become a tool for rehabilitating the centers of aging cities. Changing the classic and familiar form of living in favor of mixed uses - Creating complete complexes that combine residences, commerce, employment, public services and many other benefits - for residents, local authorities and entrepreneurs. In this way, the renewal affects the city and its residents.
The Avni Derech group, which specializes in urban renewal, has focused in recent years on the downtown area in the cities of Ramat Gan, Tel Aviv, Givatayim and Holon. These days, the group is promoting a number of large-scale projects in Jerusalem. The first is the light rail route in the city center and two more in Kiryat Yuval in Jerusalem. "On Zion Street, which is under construction and includes 70 new housing units added to the existing 80 housing units. In total, the project will include 150 housing units over 5 7-story buildings and an underground parking lot. In addition, extensive environmental development is planned in the project area.
Another project promoted by the group, and recently approved for deposit in a district committee, is located in the complex between Brazil and Olswanger streets, on an area of about ten dunams.
According to the plan, 153 old apartments in five four-story railway buildings will be demolished, and four new 20-story towers will be built in their place, which will include about 600 new apartments, along with public buildings, the widening of the street, the sidewalks and accessible passages between the streets.
According to Blumenthal, "Jerusalem is going to be the capital of Israel's urban renewal. The Jerusalem Municipality promotes construction evacuation plans and looks at what is being done in an innovative way, so that in the future we are expected to see the upgrading of weak neighborhoods alongside the development of open and public areas and the entry of a young and strong population and the development of employment."
In collaboration with Avni Derech Group