The Herzliya Local Planning and Building Committee has approved for deposit a plan promoted by Ackerstein Group (TASE: ACKR) in which Beit Ackerstein will be demolished and replaced by a mixed-use 30-floor tower with apartments, offices and commercial space. Beit Ackerstein is at the northern entrance to the Herzliya Pituah industrial zone between Medinat Hayehudim Street and Hameda Street adjacent to the Coastal Highway (Road 2). The existing building has just five floors with 5,500 square meters of space. The new tower will be built on a 2,360 square meter lot. RELATED ARTICLES Reality Group buys Herzliya land for over NIS 200m Luxury homes: Jerusalem booms, Herzliya slumps The new tower will include 59 small apartments, each about 50 square meters in size, including 12 apartments that will be leased for 20 years at a 20% discount, as part of the affordable homes plan. Published by Globes, Israel business news - en.globes.co.il - on August 21, 2024. © Copyright of Globes Publisher Itonut (1983) Ltd., 2024.
