Massive Jerusalem Development Plan Advanced by Billionaire Gary Barnett
Translated & summarized from TheMarker by baba
The story in 5 lines · by baba
- Gary Barnett is advancing a major construction plan in central Jerusalem.
- The project involves residential and commercial towers on vacant and public land.
- The plan was presented to senior officials at the District Planning Committee.
- A High Court hearing is scheduled regarding Extell-held land.
- The development overlooks the Hinnom Valley near the First Station.
Billionaire Gary Barnett, the controlling shareholder of Extell, has begun advancing a massive construction plan in central Jerusalem. The project, which Extell holds extensive land for, aims to build residential and commercial towers on vacant and public land. The proposed development is situated between central Jerusalem and the First Station complex and Hill of the Bible area, overlooking the Hinnom Valley.
The plan has not yet been officially submitted to the planning committees. However, it was presented to Shira Talmi Babai, the chairwoman of the Jerusalem District Planning and Building Committee, and other senior committee officials. This presentation was intended to gauge the committee's initial stance on the proposal.
Separately, the High Court of Justice is scheduled to hold a hearing on Wednesday regarding a petition filed by property owners concerning land held by Extell. The court's decision on this petition could impact the future of the development.
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