This week the Tel Aviv Planning and Building Committee will discuss the TA/5555 plan to set new regulations for urban renewal for buildings. The plan is based on Amendment 139 passed by the previous government, which replaces TAMA 38, which expires in October 2023.
The purpose of the discussions on Wednesday is to recommend the deposit of the plan to the Tel Aviv District Planning and Building Committee, which is authorized to approve the plan at the end of the process. Many of the plan's details have not yet been published, but the documents already revealed tell the overall picture.
Emphasis on demolition and construction
The plan is defined as "a new plan for the renewal of the old fabric in the city", and its goal is its renewal in a controlled manner and "increasing housing units in accordance with the urban outline plan, while maintaining the quality of life and allocating public spaces and buildings in the city and adjusting to expected population growth."
The plans encourages renewal by demolishing existing buildings and replacing them with larger building rights. On main thoroughfares construction of 15-floor buildings will be permitted and up to 11-floors in neighborhood streets, providing the building stands in a lot of more than 1,000 square meters. Existing buildings that will be strengthened, can be built up to 9-floors or up to 11-floors if the building already has 7-9 floors - again providing the lot is more than 1,000 square meters.
Overall building rights are up to 400% in the 'demolish and build track' and up to 200% in the 'strengthening' track.
The plan also deals with allocation of land for public space, which was notably absent in the Tama 38 program, and setting up a fund to finance projects.
Adv. Ishai Itsikovich head of the commercial real estate and urban renewal department at the Agmon with Tulchinsky law firm focused on the details that the plan leaves open, "Unfortunately, there is still more concealed than visible. What is certain is that another element of uncertainty has entered the urban renewal market, which is certainly being felt, especially at this time.
"In itself, there is nothing wrong with the changes, provided that their purpose is to promote urban renewal and, more importantly, that these do not come to reduce existing planning and taxation provisions and arrangements that the parties to the agreements relied on. Under the circumstances, the relationship between the proposed plan and the existing district plan is not clear enough, in particular with regard to the improvement levy - and whether the promotion of the new plan will limit and harm the exercise of the rights under the districts' plan, where conflicting provisions will apply."
Published by Globes, Israel business news - en.globes.co.il - on June 5, 2023.
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