After many years of trying to promote urban renewal in Herzliya, the Local Planning and Building Commission has approved the plan for deposit. Since the Local Planning and Building Commission was recently designated as a special independent commission, for the first time, approval of the project from the District Planning and Building Commission will not be needed. The plan is the second urban renewal project approved by the Herzliya Commission since its designation.
The newly approved plan concerns a lot in the Weizmann neighborhood in the city. The plan was jointly promoted by Azorim Investment, Development and Construction Ltd. (TASE: AZRM) with the Herzliya municipality for a site located between Harav Kook, Ibn Ezra, Don Yosef Hanasi, and Tur Hazahav Sts.
As of now, the site contains 30 residential buildings with 580 housing units built in the 1960s and 1970s. The new plan proposes to demolish and vacate all the buildings on the site, and build a new residential neighborhood in its place with 15 10-16-storey buildings containing 1,728 new housing units. The plan also includes public, commercial, and industrial space.
The Local Planning and Building Commission only recently approved a different urban renewal plan in the city on the Rambam site. The Company for Urban Renewal and Development is leading the project in the name of the neighborhood residents, in cooperation with Hoshen Project Management. This plan includes construction of 86 new housing units on a 2.5-dunam (0.625-acre) lot in a 22-storey building in place of 33 housing units currently in old buildings.
"Herzliya is continuing its urban renewal momentum for the purpose of upgrading the quality of housing for its veteran residents," Herzliya Mayor Moshe Fadlon said today. "With the implementation of the plan, the Weizmann neighborhood will become an attractive neighborhood with modern planning suitable for community life in a modern city."
Azorim said today, "We have been promoting this plan since we were selected by the neighborhood committee to go ahead with the project. The project will be divided into seven lots, due to the significant number of housing units. As of now, the company has obtained the consent of nearly 80% of the apartment owners, and it is assumed that now, after the Local Planning and Building Commission has given its approval, the number of signatures will rise in all of the lots. The company has been promoting the project for the past two years, and the architects working on the project are the Kika Braz Architects and Urban Planners firm."
Published by Globes [online], Israel business news - www.globes-online.com - on July 29, 2015
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