Calcalist, Shlomit Tzur, 16.11.2020
Africa Israel is a partner in a large construction evacuation project recently approved by the planning committees in the Katamonim neighborhood of Jerusalem. The company reported that through Africa Urban Renewal, it has signed an agreement with Kedmat Hayovel, which initiated the project.
Kedmat Yuval originally promoted the project in partnership with Kerso Real Estate. After Kerso decided to leave the project several months ago, Africa stepped into Kerso's shoes, and it will end the project with Kedmat Jubilee. The company clarifies that it is promoting a number of other projects in Jerusalem, and 8 months ago decided to leave the project "due to the company's internal considerations".
This is a complex that includes 376 existing apartments in 5 old and extremely long train buildings, on an area of 52 dunams on Bar Yohai Street 5-7, 11-15. According to a city building plan approved last October by the Jerusalem District Planning and Building Committee, the old buildings will be demolished and replaced by 5 towers of 32-35 floors, with 1,050 new apartments and 1,600 square meters of commercial space.
The program was initiated by Kedmat Hayovel, owned by entrepreneur Eli Schlossberg, managed by Yossi Aton and architect Uri Barshishet. The tenants' signing with construction eviction agreements began in 2016, and drafts of the agreement were distributed to residents in Hebrew, Russian and Amharic languages. Since the beginning of the process, there have been about 45 residents of public housing in the complex. With the advancement of planning, some of the public housing tenants purchased the rights to the apartments, and today there are 37 public housing apartments in the complex. Today, the percentage of tenants who have signed agreements to carry out the project stands at over 85%. As part of the project, the tenants will receive an average addition of 25 square meters from their existing apartment. The project also allows tenants to convert square meters from the exchange apartment and receive the value of the difference between the old and new apartment area in cash. Attorneys representing the tenants are Eldar Adeto, Eli Tosia Cohen and Michal Livan.
Africa Israel has another project in the Katamonim neighborhood, which is expected to receive a building permit in the coming weeks at 23-25 San Martin Street. This project will be the first construction evacuation project to be implemented in the Katamonim neighborhood. As part of the project that Africa initiated urban renewal, 34 old apartments will be demolished, and 122 new apartments will be built in two 10- and 18-story buildings.
Assaf Simon Photo: Niv Kantor
Africa's CEO of Urban Renewal Assaf Simon said, "We are strengthening our activity in Jerusalem, which has no possibility of expanding into new areas, so evacuating construction is the solution to increasing the supply of housing in the city."
Carasso Real Estate stated that "Carasso Real Estate has extensive activity in Jerusalem, which includes a number of projects that it promotes in cooperation with the Kedmat Hayovel company in addition to projects that it manages independently. After the companies reached an understanding and risk in the matter, they continue to promote 5 joint projects in the Kiryat Hayovel neighborhood in the city with a total of 1,000 housing units. It should be emphasized that in addition to the joint activity with Kedmat Yuval for the construction of 1,000 housing units, Carasso Real Estate is working to establish an additional 900 housing units in Jerusalem without partners in two large complexes in the city. "