The Haifa Local Planning and Building Commission has approved an urban renewal project in the Neve David neighborhood. Under the plan, which Almog Urban Renewal has been promoting in recent years, 74 old apartments will be demolished, and 437 new apartments will be constructed in three 25-floor towers. The plan has been in approval and licensing processes for six years.
The project involves a 16.3-dunam (4.075-acre) area located in the triangle between Hamelech Amatsyahu, Shlomo Hamelech, and Esther Hamalka Streets in western Haifa. Following the plan's approval, the company announced that it was in licensing procedures to obtain a building permit for Stage 1 of the project. The plan also includes a public bomb shelter for emergencies and a 500-square meter family health center. Schwartz-Besnosoff, a Haifa architectural firm, designed the project. Legal advice for the developer was from the Ben-Shahar, Lekner & Co. law office, and Adv. Michael Geva represented the owners of the apartments.
"This long and challenging process has now become a reality," Almog Group CEO Yaki Amsalem said today. "As part of the plan, we are developing a fund financing model, together with the municipality, that will help with the maintenance payments for tenants who need such assistance."
Published by Globes [online], Israel Business News - www.globes-online.com - on April 24, 2017
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