The Ha'Ir Hahadasha (New City) Group is determined to exercise its option to purchase the Assuta complex in Tel Aviv, even though the Tel Aviv District Court is still considering a petition against the project. The group, owned by Dror Halevy and Raviv Zoller, has unveiled its plans for the "Assuta Bauhaus Village" project, on the site of the Assuta Hospital on Jabotinsky Street, just north of the city center.
The company, which is organizing a purchasing group, will construct two 26-floor towers, which, together with two buildings scheduled for preservation, will provide 155 housing units. The project will cost NIS 800 million. Units in the projects will cost from een NIS 2.2 million up to NIS 8.5 million, with prices calculated at NIS 26,000 per square meter, below the average of NIS 30,000 per square meter in that part of the city.
The project is being designed by architect Moshe Zur, while Alex Mitalis is designing the parks and public spaces.
Published by Globes [online], Israel business news - www.globes-online.com - on December 31, 2009
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