Tenants in the Sea & Sun project and owners of the West hotel in North Tel Aviv are opposed to plans to build a high rise residential project and hotel.
The land is the last large reserve for development in the neighborhood.
Israel's Consumer Price Index has risen by 0.3% over the past year, while housing prices have risen 1.3%.
One of the country's most expensive lots is zoned for construction of a 15-storey tower.
Over 13,000 housing units have been built in Tel Aviv since mid-2015 compared with 10,300 in Jerusalem.
The plan deposited for objections sees the current population of 23,000 in Zikhron Yaakov increasing to 42,000 over the next 20 years.
Jones aims to become the standard for insurance compliance in the CRE industry.