A request for bids will shortly be issued for the project, which
includes the construction of 250 residential units, a hotel, a sport
centre and shopping and office centres.
The Jerusalem distract planning and construction committee has
approved the Jerusalem YMCA compound plan. The cost of the plan is
estimated at about $ 100 million. A request for bids will shortly be
issued in respect of the entire project.
In the frame of this transaction, the entrepreneur will be awarded a
concession for the residential areas, and the YMCA will get the
remaining areas.
The Jerusalem YMCA is owned by World YMCA, centred in Chicago.
Planning procedures are being conducted by the Jerusalem Development
Authority on behalf of the YMCA. The plan includes new construction
in an area of 67,000 sq.m., and the preservation of the original YMCA
building.
According to this plan, 250 residential units will be built on the
area of the old football stadium, in an area of 25,000 sq.m. The
apartments will be built in a number of 4 - 6 storey buildings. The
existing YMCA hotel will be expanded by the new construction of a five
storey hotel. A five storey hotel will be built in the present parking
lot