Some of the buildings will reach 45 stories.
The Tel Aviv Local Planning and Building Commission has approved a plan for 1,000 apartments in eight high-rises in the Bavli neighborhood in north Tel Aviv. The land is owned by Yitzhak Tshuva-controlled Delek Real Estate Ltd. (TASE: DLKR) subsidiary Dankner Investments Ltd. and AMTS Investments Ltd.
The plan calls for the construction of four 44-45-storey high-rises, two 37-storey high-rises, a 22-storey and a 16-storey high-rise. Parking will be underground, including for the general public. The plan also calls for green construction and environmental development that will allow a swimming pool. Several old buildings on the land will be demolished and their residents resettled.
The plan specifies construction guidelines, and the buildings' facades and heights. There will also be a footbridge over Hahalacha Street to link Bavli with the luxury YOO project across the street in Park Hazameret.
Published by Globes [online], Israel business news - www.globes-online.com - on June 4, 2009
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