Azrieli Group Scraps Residential Plans for Tel Aviv Spiral Tower
Translated & summarized from TheMarker by baba
The Azrieli Group is changing its plans for the Spiral Tower in Tel Aviv, converting residential units to office space due to planning and engineering challenges. The project's cost is estimated at NIS 3.3 billion. The decision reflects a view that not all buildings require mixed-use development.
The story in 4 lines · by baba
- Azrieli Group is converting residential to office space in its Tel Aviv Spiral Tower.
- The change is due to planning, engineering challenges, and timeline delays.
- The project's estimated cost is NIS 3.3 billion.
- The company stated not all buildings require mixed-use development.
The Azrieli Group is seeking to abandon plans for residential units in its Spiral Tower, currently under construction next to the Azrieli Center in Tel Aviv. The company intends to convert these spaces into commercial and office areas instead. This proposed change was revealed by Tel Aviv City Engineer Udi Carmeli during a conference on tower and building envelope planning.
The decision comes amid planning and engineering challenges, as well as project timeline delays. The overall cost of the project is estimated at NIS 3.3 billion. The group's statement indicated that "not every building needs mixed-use."
