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The Company’s vision is now evolving, as the urban renewal sector has become a significant growth engine for the real estate market. In fact, this sector is expected to fashion, almost exclusively, the future of housing units in urban centers.
Urban Renewal – First in Planning and Execution
Since its start in 2005, the Company has acquired considerable experience and know-how in the field of urban renewal in general, and TAMA 38, in particular. The Company was the first to receive TAMA 38 approvals from the municipal councils of Kiryat Ono, Givatayim, and Ramat Gan, the first to have worked on TAMA 38 projects, and the first to complete TAMA 38 projects in Tel Aviv, Givatayim, Ramat Gan and Kiryat Ono.
The Company has already completed several urban renewal projects. In fact, the Company is one of the few companies in Israel, which realized a real need for TAMA 38 projects, thus its extensive experience in promoting such projects with the various authorities, including municipal authorities, tax authorities, and various other regulators.
On Ha’Zamir Street in Kiryat Ono, the Company is now focusing on one of Israel’s most significant urban renewal projects – the renewal of 9 existing buildings, with 144 existing housing units and the addition of 60 new housing units, as part of a sizeable evacuation-reconstruction project. The project is called “Nofei Reisfeld,” and construction on site continues, with most of the project already completed and the housing units already delivered. In addition, the Company has several other new projects underway in the Gush Dan Region – 4-8 Zeidman in Kiryat Ono, 18-20 Sokolov in Ramat Gan, and many others.
Projects in the Planning Stage
The Company is now advancing several sites for eventual evacuation and construction, some as part of licensing procedures and some in the framework of promotion of specific evacuation-construction plans. For example 17-23 Smuts Boulevard in Tel Aviv (88 housing units), the Peterson Wedgewood Compound in Tel Aviv’s Yad Eliyahu district (400 housing units), 92-96 Derech Ha’Shalom in Tel Aviv (204 housing units), the Gonenim-Nehorai Compound in Jerusalem (260 housing units), 40-44 Eilat in Holon (320 housing units), 99-101 Ibn Gvirol (65 housing units) and more.
Focusing on Residents of More Senior Buildings
The Company considers the residents of the more senior apartment buildings prime customers and has prioritized servicing them, with the understanding that this group is the heart of any urban renewal project. Accordingly, the Company is committed to total availability to the residents, to shorten the construction time to a minimum, and full transparency of all project processes. The Company is proud of its reputation and considers it a significant part of its success.
The Company’s advantages, as noted below, reflect the experience and know-how acquired since its founding, and the best possible service it offers to its customers. These values have afforded the Company a reputation over time and have made it into a leading and innovative company.
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