Good News for Residents of the Amahtarot Complex in Jerusalem
By Jacki Wiluzanski · · Updated · 3 min read
Good news for residents of the Pinui Binui Amahtarot complex in Jerusalem
A year and a half after it was approved for deposit, the plan was deposited. It includes demolishing 106 old units and building 500 new ones: "a true urban renewal project"
A year and a half after the decision to deposit it, the renewal plan for the Amahtarot complex in Jerusalem's Armon HaNatziv neighborhood was deposited with the district committee yesterday (Monday). The plan proposes demolishing 106 old units and building 500 new ones in their place. The plan could be deposited after the Urban Renewal High School construction and development company met the committee's conditions, including changing the construction layout of the plan and raising the buildings, while the municipality joined as a proponent of the plan.
The "Evacuate and Rebuild of the Amahtarot Complex in Jerusalem's Armon HaNatziv Neighborhood" plan applies to a complex of approximately 13 dunams, between Oli Gerdom, the Metro, Moshe Barzani and Shlomo Ben Yosef. The plan area holds 5 residential buildings, including 106 housing units, a kindergarten and a synagogue slated for demolition, as well as a police station and public roads. The plan proposes a zoning change to mixed-use lots for housing, commerce, employment and public institutions, and includes 500 housing units and approximately 3,000 square meters for commerce and employment.
The original plan proposed 4 new residential buildings of 27 floors each. The district committee ordered changes to the construction layout, with the aim of densifying the construction, and as a result a scheme was approved that includes a textured residential building up to 8 floors high and three towers up to 38-39 floors high from the level of Moshe Barzani Street, including 2-3 basement floors for work and commercial uses. The committee initially ordered the scope of construction to be reduced to 450 units, but according to an appraiser's opinion it was determined that the construction will include 500 units with an average area of 100 square meters.
The committee stated in its decision: "This is a plan that meets the committee's planning policy, offering a suitable scheme for urban renewal while improving the public space."
The appraisal report prepared for the developers (updated earlier this month) shows that expected revenue for the project is NIS 915 million and expenses are NIS 777 million. The difference, NIS 138 million, represents a business profit of 17.8 percent.
Ran Malach, CEO of Urban Renewal High School Builders: We are proud to take a significant part in the renewal of Israel's capital. The project at the Jerusalem Metro joins another large project on Nurit Street and other projects across the city, which together will add more than a thousand new apartments to Jerusalem. The progress of the projects is excellent news. First of all for the apartment owners, who will finally enjoy not only the national and spiritual qualities of the city, but also a new and advanced quality of life and living environment. And also for the residents of Jerusalem and its surroundings, whose limited housing supply will increase significantly, especially in areas of high demand. For us, renewing the Eternal City is always an exciting opportunity, and we are happy and grateful for the support we receive from both the Jerusalem Municipality and the District Committee.
