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Rotshtein unit wins Tel Aviv Yad Eliyahu urban renewal tender
114 existing apartments on La Guardia Street will make way for 420 homes and commercial ground floor space.
Rotshtein Real Estate Ltd. (TASE: ROTS) unit City People announced today that it has won the tender from Tel Aviv - Yafo Municipality s Ezra & Bitzaron to build the urban renewal project at 35-45 La Guardia Street. The company said that the project will cost NIS 700 million to build and bring in revenue of NIS 820 million.
The project involves the 114 existing apartments in six buildings on a 3.75 acre site, which will be replaced by 420 apartments in mixed-use new buildings.