130 Homes to Be Built in the Rasco Neighborhood
By Jacki Wiluzanski · · 3 min read
Levinstein will build 130 apartments in a Jerusalem evacuation-and-construction complex: it won a developer tender in the Rasco neighborhood.
The project includes three towers of 10 to 12 stories, commercial space, public buildings and private public space. The plan is being promoted with the tenants and has the approval of the Jerusalem Municipality.
The Levinstein Group continues to expand its activity in urban renewal and recently won an important developer tender in Jerusalem. This is an evacuation-and-reconstruction project located at 31-33 Tchernichovsky Street, at the corner of Dov Kimhi Street, in the Rasco neighborhood, one of the most central and coveted in the city, bordering the Rehavia neighborhood.
The complex, with an area of approximately 3.5 dunams, currently has three 4-story buildings with a total of 42 housing units. According to the plan, these will be demolished and in their place three new buildings of 10 to 12 stories will be built, including approximately 130 housing units, a commercial area of approximately 300 square meters, public buildings of approximately 440 square meters and a private public space of approximately 300 square meters.
In addition to the new towers, the current residents of the complex will benefit from new and renovated apartments that include a basement, a 12-square-meter sun-deck balcony, a 6-square-meter private storage room and parking. The project is being planned by Yigal Levy Architects, and attorney Nissan Magyora of Pullman Magyora & Co. is responsible for advancing the agreement with the residents. The Levinstein Group is represented by attorneys Oren Erdman and Chen Greens of Steinmetz, Herring Gorman.
According to Amir Lotan, Vice President of Urban Renewal at the Levinstein Group: "We are delighted to have won the tender and we thank the residents for their trust. We are at an advanced stage of advancing the agreement with the owners and expect the master plan to take effect soon. Given the complexity of the market, we continue to invest great effort in promoting essential projects in many cities, in close cooperation with local authorities, including the Jerusalem Municipality, which understands the importance of urban renewal." The new project joins a series of other initiatives by the Levinstein Group, which is currently promoting more than 8,500 housing units at various stages of planning and construction, including large projects in Tel Aviv, Givatayim, Herzliya, Rehovot, Tel Mond and other cities.
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