The Ramat Hasharon municipality and the Israel Land Authority have signed a NIS 566 million development agreement for the Neve Gan North neighborhood. A week previously, the Israel Land Authority announced a tender for four lots, with an aggregate area of 15.5 dunams (3.9 acres) on which 482 housing units will be constructed under the Buyer Price program. The tender documents have not yet been published.
Neve Gan North is north of the existing Neve Gan neighborhood, east of the Ayalon Highway and west of the Kiryat Shaul cemetery. It will ultimately have 3,100 housing units. Under the agreement, to be carried out jointly with the Israel Land Authority and financed by the Authority, finance will be provided for all the infrastructure and roads in the neighborhood.
The agreement includes the construction of a road connecting Glil Yam in the north and Tsomet Hapil ("Elephant Junction') in the south, and bypassing the existing route along Sokolov Street (Ramat Hasharon) and Moshe Sneh Street (Tel Aviv) via the Hakfar Hayarok interchange.
The Ramat Hasharon municipality believes that construction of the new road will relieve a great deal of the traffic congestion within Ramat Hasharon. There will also be access from the new neighborhood to the Ayalon Highway.
Land will be sold in the industrial zone at Glilot to balance the project budget. The new neighborhood will have schools, a country club, and other amenities.
Ramat Hasharon mayor Avi Gruber said, "The agreement ensures the development of the city on the one hand, but also takes care in advance that future residents will have all the infrastructure they need."
As mentioned, tenders for the first lots are already under way, but since a development agreement has only just been signed, it will probably be a long time before construction begins on them.
Published by Globes, Israel business news - en.globes.co.il - on November 10, 2019
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