Tel Aviv approves first-ever masterplan

Tel Aviv Photo: Tamar Matsafi

120,000 new homes and 5 million square meters of office space are planned by 2025.

For the first time since its establishment in 1909, and after merging with Jaffa shortly after the establishment of the state in 1948, a masterplan has been approved for the city of Tel Aviv. The TA-5000 plan approved for deposit by the District Committee and signed by Tel Aviv-Jaffa Mayor Ron Huldai, sets the direction of the city's development by 2025.

The plan has been kicking around since 2008 but aroused many objections, many of which have been taken into account while others were discarded. One of the major objections concerned the scale of residential construction, which initially amounted to just 35,000 new homes but has now been nearly quadrupled to 120,000 homes.

The plan also includes the addition of 5 million square meters for office space employing 486,000 people compared with 400,000 today. Most of this new space will be along the Ayalon highway and railway line.

The new plan slates large areas of Jaffa for preservation, while the Reading power station complex to the north of the Yarkon River will be reduced in size with land allocated for public buildings and spaces.

Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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Tel Aviv Photo: Tamar Matsafi
Tel Aviv Photo: Tamar Matsafi
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