A.T. Urban Renewal Corporation

Company Activity
The Company’s involvement in evacuation-construction projects is currently obvious in several Israeli cities, such as Tel Aviv, Bat Yam, Ramat Gan, Bnei Brak, Givat Shmuel, Ness Ziona, Petah Tikva, Holon, Beit Shemesh, Herzliya, Haifa, and the Krayot. It is always aimed at urban demand areas, where it is necessary to find creative solutions to increase the number of apartments in any given area. In many cases, the projects are realized thanks to the Company’s success with the planning and local government authorities, which more than once led to unprecedented achievements in the urban renewal sector. The Company has started and is behind the groundbreaking evacuation-construction project at 64-68 La Guardia Boulevard in Tel Aviv. Three older “railway buildings” were demolished, with 72 apartments and four 7-9-story buildings, and replaced by 275 housing units and commercial areas. The impressive project is advancing quickly, and the demographic process should begin as early as October 2020. The project is valued at NIS 630 million, and its impact on the fabric of the neighborhood is already being felt, even though its construction has not yet been completed. In the Yad Eliyahu neighborhood, which includes about 600 apartments and commercial and public areas, these projects, which are in the advanced stages of receiving building permits, will contribute to a significant environmental change and breathe new life into the older neighborhood.
As noted above, the Company has had significant achievements in other cities and is leading many urban renewal projects that are now advancing. The NEO Ha’roeh Project, at 151-153 Ha’roeh St. in Ramat Gan, valued at NIS 210 million, is a stunning project that received a building permit in January 2020, and construction has started. Two older “railway buildings” with 38 units are to be demolished and replaced. Two modern and unique residential buildings with 108 housing units will be built.
The NEO Ben Gurion project in Givat Shmuel, valued at NIS 250 million, was completed in 2020. This is a substantial project at the western entrance to the city, at 2-6 Ben Gurion Street, where two 15-story towers with 148 housing units will be built in place of the three existing buildings with their 36 residential units. This project is also in an advanced phase following the demolition.
The Company is also developing a sizeable project on Ha’Tayasim Street in Tel Aviv (in collaboration with B.S.R.), which is about to receive a building permit and is being prepared for marketing. As part of this project, six older “railway buildings” on 6-10 Ha’Tayasim and 10-14 Bernfeld will be demolished, and four 7- and 9-story residential buildings will be built in their place. The new buildings will have a total of 260 housing units instead of the current 72 housing units. The Company is also advancing urban renewal projects in areas far away from Israel’s center and is promoting a NEO Project in Ramat Lehi. This is a large project. Its plans were approved in January 2020 by the National Committee for the Planning and Construction of Preferred Housing Complexes for the construction of 1,053 housing units in 10 new buildings with a height of 9 to 24 floors, instead of the older “railway buildings” from the 1950s that had 176 housing units. The project is valued at NIS 1.1 billion.
Throughout its years of activity, the Company has showed tremendous strength, professionalism, and action, which is reflected, inter alia, in its proven ability to work with planning authorities, at the local and national level, to bring about changes in the plans and to enable projects to transform from another plan on paper to reality on the ground. It should be noted that these are complex and lengthy processes, requiring tremendous aggregate professional knowledge, working with many entities and rights and interests, and real financial strength that provides the breathing room and banking backing necessary for projects of this magnitude. In recent years, the Company has promoted a change in 20 projects throughout Israel.

Influence, Leadership, and Cooperation with Apartment Owners
The Company supervises the progress of each of the projects it starts with impressive professionalism. Throughout the process – a period of several years – it is a continuous and significant anchor for the apartment owners. The project managers (and the CEOs themselves) maintain regular contact with the representatives of the apartment owners and each apartment owner separately, if they need a reply or a sympathetic ear on any issue related to the project. Evacuating tenants from their apartments, moving their homes to another location, and demolishing the houses to build new ones – the Company understood from day one that the leading and most important parties are the homeowners. The Company’s executives have learned that in urban renewal, apartment owners are the natural partners of the promoter since they own the land.
. In 2018, against the background of the Company’s success in promoting large projects with the planning authorities while maintaining an impressive work sequence and minimal bureaucratic tangle, the Company, together with the ISA Group, a Jerusalem real estate group, established the Jerusalem Renewal Company. In Jerusalem and Bnei Brak, it is now promoting 12 projects in several Jerusalem and Bnei Brak neighborhoods, involving thousands of housing units and thousands of square meters of commerce areas.