The largest office tower in Israel has been approved. The Tel Aviv District Planning and Building Commission in the Planning Administration today rejected the objections and gave final approval to a plan for building the 100-storey Bein Arim Tower. The Tel Aviv municipality-owned site is located in the heart of the metropolitan business district between Shefa Tal Street in Givatayim, Jabotinsky Street in Ramat Gan, and the exit ramp from the Ayalon Highway (Arlosorov Interchange), near the Savidor Railway Station and the Tel Aviv light railway Red Line.
The plant includes 120,000 square meters of main space for offices, hotels, commerce, and public space. In addition to the tower, two six-storey public buildings will be constructed nearby. The Tel Aviv municipality will set uses for these two buildings in the future.
It is believed that the Tel Aviv municipality will soon issue a tender to market the land to developers. Due to the scope of the project and the fact that most of its uses are for offices and hotels, large companies oriented towards offices such as Azrieli Group Ltd. (TASE: AZRG), Amot Investments Ltd. (TASE:AMOT), and Nitsba Holdings Ltd. (TASE: NTBA) are expected to take an interest in the tender, as well as cooperation between income-producing real estate companies and players in the hotel industry.
Residents of existing buildings and purchasers of apartments in towers under construction in Ramat Gan and Givatayim filed objections to the plan. Other objections were submitted by Tel Aviv city engineer Oded Gvuli and by Ayalon Highways Co. The District Planning and Building Commission heard the objections and approved the plan, subject to a number of changes, including doubling the space for public buildings from 5,000 square meters to 10,000 square meters without increasing the amount of space for construction. This public space can be used for educational and religious services, sports, municipal offices, leisure, and community, welfare, and health services at the discretion of the Tel Aviv municipality, and can also be used by the nearby Nahalat Yitzhak neighborhood.
The District Planning and Building Commission also decided to require construction of a pedestrian bridge connecting the proposed tower to the neighboring tower on the south in Givatayim and construction of a pedestrian bridge on the northern side above Jabotinsky Street in Ramat Gan. These two bridges were marked as a future option in the appendices in the deposited plan.
The plan, designed by Amnon Schwartz Architects and architect Guy Miloslavsky, emphasizes development of the public space between the buildings and pedestrian traffic to and from the site on the various street levels, including the municipal boulevard level around the Ayalon area slated for roofing.
District Planning and Building Commission chairperson Daniela Posek said, "The plan emphasizes the public space, and as a result includes an array of pedestrian bridges. Its construction will connect the meeting point of Givatayim, Ramat Gan, and Tel Aviv to the central public transportation area of the country and the metropolis."
Published by Globes [online], Israel business news - www.globes-online.com - on June 5, 2018
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