Tel Aviv Approves Major Real Estate Projects in Neve Sha'anan
Tel Aviv's planning committee approved three major mixed-use projects in Neve Sha'anan on October 14, adding 371 residential units, commercial spaces, and six underground parking levels.
The Tel Aviv Local Planning and Construction Committee approved on October 14 three major real estate projects in the Neve Sha'anan neighborhood, marking a significant step in the area's ongoing urban renewal. The projects encompass high-rise construction, 371 residential units, commercial and office spaces, public buildings, and six levels of underground parking.
Project Breakdown and Developers
The approved developments are part of a unified complex located along HaGra, HaRakevet, and Bnei Brak streets. Three separate applications were submitted by prominent real estate firms:
-
Allied Real Estate: Approved to build a 20-story residential tower with 148 apartments and commercial ground floor, alongside a 28-story office, commercial, and public building on HaRakevet Street. The committee granted exemptions including increasing building density to 75%, adding three residential floors up to 22, and approving two private rooftop swimming pools.
-
Sela Binui, Shoval, and Barel Partnership: Approved for a 23-story office and commercial tower alongside a 15-story residential building containing 105 apartments.
-
Bonli: Approved for a 33-story mixed-use tower featuring 118 apartments, offices, commercial spaces, public areas, and a shared tenant swimming pool.
Infrastructure and Conditions
All three projects will share a massive six-level underground parking facility managed through two primary ramps: an operational ramp managed by Allied and a private vehicle ramp. The committee conditioned the issuance of building permits on signing construction contracts with the municipality, obtaining Fire Department approval, and fulfilling City Architect requirements.
Neve Sha'anan has long been identified by the municipality as a priority for urban renewal, though progress is often hindered by complex land ownership structures and lengthy planning processes. Simultaneously, the nearby HaShomron complex project spanning the former central bus station area is also advancing with 1,333 planned apartments and extensive employment space.
