The Jerusalem District Planning and Building Commission has approved the "Little Hadassah" plan promoted by the Apartment for Rent Rental Housing Government Company, together with the Jerusalem Municipality and the Ministry of Finance. The plan includes over 200 apartments for long-term rentals in Jerusalem.
The plan refers to a site in the Kiryat Yovel neighborhood between Henrietta Szold St., Yaacov Tehon St., and Chile St. adjacent to Rabinovitz Garden ("Monster Garden"). The architect for the project is Yigal Levy.
The plan provides for the construction of 450 housing units in four 18-floor residential buildings with a commercial floor. This plan also includes rental construction, although as of now, the exact number of rental housing units has not yet been determined. At least half of the project is expected to consist of rental housing units.
The Apartment for Rent Rental Housing Government Company plans to issue a tender for marketing the land to private developers in the coming months, at which time the fully quota of rental apartments will be set. Sources in the Apartment for Rent Rental Housing Government Company told "Globes" today that the tender is scheduled for April-May 2016, and that as of now, the number of rental apartments would be around 225, 25% of which (about 56 housing units) would be for long-term rentals at fixed prices. This is similar to other tenders published by Apartment for Rent Rental Housing Government Company. The remaining apartments in the project will be put up for sale.
"Approval of the Little Hadassah project will make it possible to build hundreds of housing units for young couples, and will constitute a significant step in urban renewal for the neighborhood," Apartment for Rent Rental Housing Government Company CEO Uzi Levy said today. " The project is located near the light railway line and Hadassah Ein Kerem Hospital."
Published by Globes [online], Israel business news - www.globes-online.com - on January 24, 2016
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