The Tel Aviv District Planning and Building Commission, headed by chairperson Daniela Posek, today approved for deposit a plan for business and long-term rental residential towers in the northwestern part of the Israel Diamond Exchange compound in Ramat Gan. The plan, which was submitted by Apartment for Rent - The Governmental Company for Housing and Rental, covers 13 dunam (3.25 acres) between Begin Street on the east and Ayalon Highway on the West. Avner Yashar Architects designed the plan.
The plan includes the construction of two 50-storey towers and one eight-storey building with a total of 80,000 square meters of space, in addition to 5,000 square meters of commercial space along the Ayalon Highway in continuation of the already existing high-rises. At the same time, the eastern part of the site along Begin Street will have a 60-storey tower with 100,000 square meters of commercial and public space, student dormitories, and rental apartments. The student dormitories will have 350 rooms and there will be 400 rental apartments with an average of 65 square meters per housing unit. 25% of the area for rent will consist of apartments rented at a discount to eligible people, while the other apartments will be rented on the free market.
The plan also includes a public avenue between the business and residential buildings connected to a plaza with the commercial facades facing it. In addition, the plan includes 900 underground parking spaces to be managed as a public parking lot that will provide a solution for all users, and another public parking lot under Begin Street that can be reached through both the underground parking and from Begin Street.
The plan also allocates 10,000 square meters of public space that will probably be reserved for an educational institution in order to make it possible to move the Shenkar College of Engineering, Design, and Art from its location on Yeda Am Street to this location, thereby making room for a school for the Haruzim neighborhood.
The District Planning and Building Commission said today, "The plan stresses commercial space and commercial facades, which will be active for most of the day, together with a developed public space for the benefit of the visitors and employees. The plan is to attract as many people as possible in order to put more life into the Diamond Exchange area and extend the duration of activity there beyond working hours."
Following the discussion, Posek said, "This plan was originally opposed by the local committee. Thanks to professional and planning leadership by the district planner, it was transformed into a consensual plan that empowers the potential of the area, which is defined as the metropolitan area's main business center. This is consistent with the district outline plan's goals and those of the earlier outline plan for the Diamond Exchange compound of enhancing business and commercial areas and public space in the proximity of the mass transportation system and the light rail in accordance with the principles of the Planning Administration."
Apartment for Rent CEO Uzi Levy said, "This a big and significant plan for which we at Apartment for Rent are preparing. The plan will enable hundreds of people made eligible for discounted rental housing by the Ministry of Construction and Housing to rent an apartment in a long-term rental on fair terms at Israel's hub between Tel Aviv and Ramat Gan. For the first time in Israel, a government company will lead a multi-use project on this scale. The Diamond Exchange triangle plan is designed to breathe new life into the Diamond Exchange area, and to build an urban continuity on one of the most desirable real estate sites in Israel."
Minister of Finance Moshe Kahlon also commented on the plan's approval, saying, "The plan approved for deposit today is a successful plan that makes optimal use of the ear through a combination of commerce, residences, business, and student dormitories in the heart of a high-demand area. We intend to continue allocating land and promoting additional multi-use projects."
Ramat Gan Deputy Mayor and Local Planning and Building Commission chairperson Avivit Maor-Nimrodi said today following the depositing of the plan, "The plan that reached to local commission's table included too little business space, with 400 housing units, but without sufficient public space. Since the commission believed that it was not a proper plan on that format and did not provide a proper solution for public needs, because of the number of apartments and the absence of business space, it rejected the plan.
"Fortunately, following the rejection by the Local Planning and Building Commission, the plan under went substantial changes in recent months in coordination meetings between the District Planning and Building Commission, the municipality, and Apartment for Rent, to the satisfaction of all involved.
"The plan brought up for discussion today at the District Planning and Building Commission was materially different, and we welcome it. The volume of business space was increased dramatically, which will substantially add to the city's business strength. 10,000 square meters of public space were also added, plus 10,000 square meters of student dormitories, which will together constitute a significant public focus in the Diamond Exchange, and make available land currently used for public buildings in the Ramat Gan town center, which new zoning will allow to be used for neighborhood needs."
Published by Globes [online], Israel Business News - www.globes-online.com - on January 22, 2018
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