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joshhtl
Huge mall, 1,700 housing units to be built in central Tel Aviv at a cost of $1 billion
Ofer Petersburg Published: 09.11.07, 10:46 / Israel Money
The Tel Aviv municipality published an international tender for the construction of a 15,000 square meter mall and a new neighborhood compiling 1,700 housing units.
The projects will be built on the area which until recently served the wholesale market in Tel Aviv.
Menahem Leiba, director-general of the Tel Aviv municipality, explained that the tender would be international because construction costs are slated to exceed $1 billion, a cost local entrepreneurs may not be able to meet.
The projects are part of a plan to completely transform the Hashmonaim Street complex in the city. As part of the plan, a European-style square will be built on a public parking lot in Haarbaa Street; vehicle traffic will be banned in the Kirya compound and six residential towers will be erected there.
Additionally, galleries and cafes will be opened along Kaplan Street in the area of the renovated Templer Houses