Final approval granted for two towers at Ikar Atarim Square

In depth

The District Appeals Committee has given final approval to the Atarim Square plan in Tel Aviv, according to TheMarker. Under the plan, the square will be demolished and a residential tower and a hotel building, each 25 stories high, will be built in its place. According to TheMarker, the grade-separated interchange and the existing parking lot will be demolished, and access from Ben Gurion Boulevard to the sea will be possible without stairs.

According to Calcalist, the plan will allow the construction of 220 apartments and 300 hotel rooms, and the appeals committee rejected the objections to the plan. According to Bizportal, the apartments will be occupied only after the hotel receives an occupancy permit, and hotel rooms will not be sold separately. According to Ynet, the committee ordered a reduction of 4,000 square meters in building rights and an expansion of public areas. According to N12, a cut of 4,000 square meters in building rights was also approved.

According to Bizportal, the dispute over the parking lot and the distribution of the proceeds is continuing. According to TheMarker, a new parking lot with 350 parking spaces, owned by the city, will be built.