Urban renewal plan approved in heart of Tel Aviv

The Local Planning and Building Committee in Tel Aviv has approved this week a plan for the Hashemite Staqa at the corner of the Minatsem Biton road and Hahash North Street opposite the old central bus station. The plan is designed to renew the youth of the region, which currently serves Israel Electricity Company (IEC). The offices and installations of the company moved to Rishon Lezion, and the entire region was transferred to the Israel Land Authority and the municipality of Tel Aviv.

The plan has now been officially approved and will include a multi -use multi -use tower in the northern part of The LOT, an eight -storey office building and a five -storey building for public uses. The plan includes 120 apartments, 34,400 square meters of office spaces, 4000 square meters of public buildings, and 2000 square meters of commercial spaces.

The plan will also include keeping four buildings, including the old water tower, and will provide access between Begin Road and Hahshmal Street across public squares and corridors. In 2018, the value of the complex was estimated at 3 billion NIS, but with the rights of 2000 new housing units, sixteen times the number in the approved plan.

It was published by Globes, Israel Business News – En.globes.co.il – on February 20, 2025.

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