The Tel Aviv District Planning and Building Commission, headed by Gila Oron, has decided to approve for deposit an urban renewal project on Hahistadrut St. in Givatayim. The plan includes the vacating of 168 housing units in six residential buildings on the street and the construction of three 32-storey high rises with 520-570 new 3-6-room housing units.
The Givatayim municipality, the Ministry of Construction and Housing, and the tenants have approved the plan. The tenants have contracted with Gindi Investments 1 Ltd. (TASE: GIND.B1) to carry out the project after it is approved. As of now, over 90% of the housing owners have signed an agreement with the company. The architect for the project is Ruth Hershkovic.
The project approved for deposit also includes the possibility of including 2-3 kindergarten classrooms in each of the high rises, pocket gardens, and west-to-east pedestrian passageways in the direction of the neighborhood park, as well as a connection between Hahistadrut St. and Yitzhak Rabin Rd., which will help facilitate access to the neighborhood.
Given the shortage of public space in Givatayim, the plan includes two public lots totaling 10 dunam (2.5 acres) for public uses at the disposal of the municipality. A nine-storey building currently occupying one of these lots is slated for vacating under the plan, but since the building is in good condition, the plan allows that municipality to use the existing building, and even to add a number of storeys to it and use it for sheltered housing or student dormitories.
The plan is located in southern Givatayim between Yitzhak Rabin Rd. on the north, Kaf-Gimmel St. on the south, and the Rivka garden on the east, along Hahistadrut St. near the Givatayim shopping mall. This plan fits in with the "Hahistadrut lot" plan, a larger urban renewal plan on the nearby lot, which includes the vacating of old apartments and construction of over 3,000 housing units.
These two plans (the Hahistadrut lot and the plan for Hahistadrut St,) with a total potential capacity for 3,600 housing units, are in addition to the Kurazin industrial zone plan, approved by the District Planning and Building Commission, whose potential is 4,000 housing units, and a 300,000 sq.m. zone for industry, commerce, and leisure.
The Tel Aviv District Planning and Building Commission said, "The plan matches the urban development trends and the urban policy of building high-density housing, and dovetails with the Hahistadrut lot plan, which has not yet been published for deposit. The plan is located between two future light railway stations: one to the south for the Purple Line along Aluf Sadeh Rd. and the other north of the plan for the Yellow Line along Yitzhak Rabin Rd., close to the Givatayim mall.
Published by Globes [online], Israel business news - www.globes-online.com - on December 29, 2015
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