266 apartments will be built in a vacate and build project at the Zionism compound in the western Jerusalem neighborhood of Kiryat Hayovel, under a plan submitted for deposit with the Jerusalem Local and Planning and Building Commission.
The Zionism compound is a 22-dunam (5.5-acre) area partly owned by private parties and partly owned by the Israel Land Administration (ILA). The site currently has with six buildings with 64 apartments, which are slated for demolition. Another building on the site is intended for a synagogue. The government declared the site eligible for a vacate and build project in 2007, after which the Jerusalem Municipality initiated planning procedures.
The site is zoned for 15 new buildings with 266 apartments, 20% of which will be smaller than 85 square meters. The remaining apartments will each have 102 square meters of main space.
Jerusalem Mayor Nir Barkat said, "The vacate and build project for the Zionism compound was moved forward with the objective of improving the quality of life of the residents, improving the quality of housing, increasing the number of apartments, and building housing for young couples, as part of the municipality's policy of promoting housing for young people across the city."
After the Building Commission approves the project, the 64 present residents will pick a contractor to build the project. The residents will be eligible for either a new apartment in the project, another apartment elsewhere, or a cash payment.
Published by Globes [online], Israel business news - www.globes-online.com - on June 24, 2010
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