The Urban Renewal Subcommittee of the Jerusalem District Planning and Building Committee today (Thursday) approved for deposit one of the largest evacuation-construction projects in the capital - a joint project by the companies Tra Real Estate and Rothstein, in the heart of the French Hill neighborhood.
According to the plan, 309 existing apartments in 8 outdated residential buildings will be demolished, and in their place 1,300 new housing units will be built, in ten buildings of 18-30 floors.
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Next to it, approximately 2,200 square meters of commercial space, a pedestrian promenade, and direct connecting paths to the light rail station, which is only about 300 meters away, will be built.
The project, designed by the architectural firm Kolker-Kolker-Epstein, will spread over an area of approximately 40 dunams, between Bar-Lev, HaHagana, Bar Kochba and Ma'ale Adumim streets - and will connect the new residential complexes to the fabric of the existing streets and open spaces.
The urban vision behind the plan includes not only improving infrastructure and buildings, but also strengthening community life, promoting mixed-use development, and upgrading public transportation connectivity - especially in light of the proximity to the light rail route.
As part of the planning, emphasis is also placed on the well-being of long-time residents: as part of the process, residents will benefit from new and upgraded apartments, with full support of the project from the statutory stage to occupancy.
This is not the first time that Terra Real Estate and Rothstein have collaborated in Jerusalem: last January, a similar plan was promoted in the Gilo neighborhood, under which 178 old apartments will be demolished and about 800 new apartments will be built.
According to municipality officials, this is another important step in implementing the urban renewal strategy in Jerusalem - which is a response to the city's housing crisis and moves the older neighborhoods into a more modern era of housing, transportation, and services.
Yona Green, partner and CEO of Terra Real Estate: "We are proud to lead a major and significant project in the heart of Jerusalem, which will bring real good news to the residents of French Hill. This is de facto the establishment of a new neighborhood and a move that will allow long-time residents a higher quality of life and promote an advanced, modern residential environment connected to the city's transportation infrastructure. This is an example of the correct combination of planning, community and innovation. I thank the committee for their cooperation in promoting the project.".
