Major Urban Renewal Project to Add 780 New Apartments in Mazkeret Batya
Amram Avraham, a real estate company, is expanding its urban renewal activities by entering its first "Pinui-Binui" (demolish and rebuild) projects in Mazkeret Batya. The company has partnered in two projects within the Eliyahu Boulevard complex, which will involve demolishing approximately 216 existing housing units and constructing around 781 new ones across 15 nine-story residential buildings.
The first project, in collaboration with Sinko, owned by Shlomi Cohen, will see 102 old units replaced by about 396 new apartments. The adjacent project, partnered with Herssof Urban Renewal, owned by Avi Arbiv, will demolish 114 old units to build approximately 385 new ones. Both projects have secured the necessary majority of homeowner signatures, and Amram Avraham recently held an initial residents' meeting for the Herssof partnership.
These projects are part of a larger urban renewal plan for Eliyahu Boulevard, a main thoroughfare in Mazkeret Batya, initiated by the Urban Renewal Authority and the local council. This comprehensive plan covers about 54.5 dunams, aiming to demolish 318 units in 20 older buildings and construct around 1,200 new housing units in nine-story buildings. The plan also includes commercial and employment spaces, public buildings, and open areas. Some new apartments will be designated for smaller units and long-term rental housing at affordable prices.
Mazkeret Batya, one of Israel's oldest settlements, has experienced high housing demand due to its central location, transportation accessibility, quality of life, and educational system. The renewal project aims to revitalize the town center, upgrade infrastructure and public spaces, and significantly increase the housing supply.
Zipi Wiener, head of urban renewal at Amram Avraham, stated that the company's entry into these projects marks a significant milestone in its urban renewal expansion. She emphasized the company's ability to manage projects from planning to delivery, supported by its financial stability, providing residents with confidence. Amram Avraham plans to expedite planning and begin marketing soon, viewing urban renewal as a mission and a key growth driver.
