Jerusalem to Build 260 Affordable Rental Apartments in City Center

The Jerusalem Municipality and the municipal company Eden have selected Shapir Group to develop a long-term rental housing project in the city center. The project will include 260 apartments across the Beit Ha'am and HaMeshulash complexes, along with commercial, cultural, and educational spaces. The development will be financed, operated, and managed over 25 years.

The apartments will be offered at 20% below market rates to eligible participants of the "Discounted Apartment" program, with 15% of the units reserved for Jerusalem residents. The initiative aims to increase rental housing supply and revitalize the city center through mixed-use development.

At Beit Ha'am, a nine-story building will house 120 rental apartments, commercial areas, and the restoration of the Vertigo and Kolben Dance halls. At HaMeshulash, located at the intersection of Osishkin and Menorah streets, another nine-story building will contain 140 apartments, 500 square meters of commercial space, 300 square meters of cultural space, and two kindergartens.

Jerusalem Mayor Moshe Lion stated that the project will provide quality housing for young people and families while strengthening cultural, educational, and community institutions. Eden CEO Yehuda Saban highlighted the project's integration of affordable rental housing with public and commercial uses totaling 20,000 square meters, emphasizing the city's policy to expand long-term rental housing and retain young residents in Jerusalem.