The Tel Aviv District Planning & Building Committee, chaired by Gila Oron, decided at its Monday meeting to pass the plan for the Eldan Tower, a development near the Ayalon Highway's La Guardia interchange.
The plan for the parcel, on the corner of Levanda and Rosh Pina streets, calls for the construction of a 25-story mixed-use high-rise on top of two foundation levels, with an eight-floor basement. The proposed 12,300-sq.m. structure would include 9,300-sq.m. commercial space and 3,000-sq.m. for 40 homes.
The investors behind the project - America Israel Investments and Eldan, which owns the property - said the apartments would have 70-sq.m. of living space. Eli Brostowsky, of Pelleg Architects, is the chief architect of the plan.
The Planning & Building Committee said, “The plan assures the safety of the sandstone cliff on the site, around which there will be a 5-meter band of unconstructed space open to the public. The foundation of the tower is part of the urban redevelopment of the area, which includes the construction of several high-rise buildings around the La Guardian Interchange, the Ayalon Highway, and along HaRakevet Street.”
America Israel Investments co-owner Shimsho Harel said, “The Tel Aviv Municipality sees the location of the tower as the southern entrance of Tel Aviv, and that is why it maintained the position that the structure needed to have a finished look. Additionally, the plan includes mixed-use intentions for commercial and residential purposes to make sure that the environment around the structure will be lively throughout the day.”
He added, “At the same time, the municipality and the Planning & Building Committee asked that we maintain the nearby sandstone cliff so that the public may see first-hand what Tel Aviv was built on one hundred years ago.”
Published by Globes [online], Israel business news - www.globes-online.com - on August 4, 2015
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