Renewal Plan for Tel Aviv's Neighborhoods 5 and 6 Approved

In depth

According to Ice and according to Bizportal, the plan allows an addition of about 14,000 apartments. According to Bizportal, buildings slated for preservation were excluded from its scope, and on plots over 700 square meters, areas will be allocated for public purposes. According to Ynet, buildings designated for preservation will not be included in the plan.

According to TheMarker, the plan replaces TAMA 38 and covers the historic parts of the city center and its south. According to TheMarker, not granting an exemption from the betterment levy will harm the economic viability of many projects. According to Israel Hayom, the industry welcomes the planning certainty, but emphasizes that the test will be in economic viability and in the realization of building rights.