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.
Tel Aviv s Rabin Square to become construction site
Work will begin on the light rail Green Line underground station in June in the city s large municipal square.
Next month work will begin on the Tel Aviv light rail Green Line and from June 2021 Rabin Square will become a construction site. NTA Metropolitan Mass Transit System Ltd. which is supervising the work, says that 40% of Rabin Square will be used for storing construction and engineering equipment while the underground station beneath the square is being built.
There will be two entrances to the underground station. The first entrance will be in the west near the ecological pool and the second in the east at the corner of Ibn Gbriol and David Hamelekh Streets. Various sections of Ibn Gbriol Street will be narrowed during the engineering works.