The Committee for the Preferred Housing Program today approved for deposit the plan for building a new residential neighborhood in the Shoham regional council jurisdiction. The new neighborhood will be built at the southern entrance to Shoham, near Ben Gurion Airport, west of Road 444 and north of Road 453.
According to an announcement by Israel Land Authority (ILA), the neighborhood is zoned for 1,600 apartments and 224 special housing units (for special needs groups: senior citizens, students, etc.). The housing will be of various types, including high-density construction in seven-storey buildings. The plan includes sports and vacation areas, a high school, a cultural building, and other public spaces. Shoham currently has a population of nearly 20,000.
A park and bicycle paths will be built along Beit Arif River, which separates the northern and southern parts of the planned area, and will connect the planned neighborhood to the existing Shoham community and the Shoham Forest Park on its eastern side. ILA Director of Planning Division Rafi Elimelech said that moving the plan forward and approving it for deposit were part of the ILA and the government's policy of going ahead rapidly with residential plans around Israel in general, and in the central region in particular.
He added, "The plan will make it possible to increase the supply of housing units as part of the solution for the existing shortage. The neighborhood's central location, its access to main arteries, and its level of service in both public and educational institutions and transportation will provide a suitable answer to the demand, and strengthen the existing community."
"Globes" recently reported that the development costs for developers in the Kramim neighborhood in the town had risen 60% over the past three years, which is clearly expected to be rolled over on to the buyers. In view of Moshe Kahlon's recent declarations that all the land will henceforth be marketed through the buyer fixed price method, it will be interesting to see how the development prices in the new neighborhood will be affected, and whether they will rise even further in order to "cover" the discount on the land price.
The plan will be promoted through the Tik Projects management company. The architect for the project is Joe Abucassis.
Published by Globes [online], Israel business news - www.globes-online.com - on July 22, 2015
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