Haifa Local Planning and Building Committee has approved several large urban renewal projects involving more than 1,000 housing units.

The biggest of the projects is in the Kiryat Eliezer neighborhood in an area covering 5.25 acres between James de Rothschild Street and Hama’apilim Street where 168 homes will be demolished and replaced by 760 homes.

The project is moving ahead after Beita-Rothschild Ltd. and Africa-Israel Investments Ltd. responded to a unique call for proposals from the Haifa Development Authority designed to move forward a plan that is not economically worthwhile. The two construction companies will receive a grant of NIS 16 million over 10 years on condition that the project includes 19 homes for leasing at a subsidized rent. The companies will also make social investments in the neighborhood for disadvantaged population sectors such as the elderly and for early childhood education and integrating new families.

The project designed by Alexander Marelly Architects includes nine new buildings each with 22 floors and 1,150 square meters of public areas. Parking for the new apartment blocks will be underground so that Rothschild and Hama’apalim Streets can be widened while the eucalyptus trees on the streets will be preserved.

Published by Globes, Israel business news – en.globes.co.il – on May 30, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

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