Givatayim Approves 45-Story Residential Tower Near Tel Aviv Light Rail Station
The Tel Aviv District Planning and Building Committee has approved the deposit of plans for a 45-story tower in Givatayim, located at the intersection of Tavankin, Korzin, and Aluf Sadeh roads, near the Purple Line light rail station. The project, initiated by Reality Fund, covers approximately 2.3 dunams and will include 230 housing units, combining 130 regular apartments and 100 affordable long-term rental units averaging 45 square meters. The tower will also feature commercial, employment, and public spaces. This development is adjacent to the Korzin area, which is also slated for extensive urban renewal, creating a continuous urban corridor between Derech HaShalom and the light rail line to other renewal zones on Histadrut Street.
Originally, the project was promoted by Hanan Mor, who planned a taller tower of 50-55 floors with about 300 apartments. Mor purchased the land in early 2022 for 241 million shekels, financed by a loan from Reality Fund. Due to financial difficulties, the land reverted to the fund, which continued advancing the project. The current plan reduces the height to 45 floors, includes 20% of regular apartments sized over 120 square meters, and lowers parking requirements due to proximity to public transit. The plan was designed by Moshe Tzur Architects.
In related regional developments, the Central District Committee approved a new neighborhood in Modiin with 3,575 housing units, including two 25-story towers, while the Northern District Committee authorized 2,150 units in Nazareth’s "Salesian Lands" neighborhood. Additionally, Ampha acquired 49% stakes in two urban renewal projects by Bonei HaTichon in Jerusalem and Azor for approximately 78 million shekels.
Separately, a master plan agreement was signed for Kfar Yona to build 10,000 new homes, with 6,000 on state land and the rest on private land. The plan includes a 2 billion shekel investment in infrastructure and public facilities, with the city’s mayor emphasizing the importance of a bypass road as a vital artery for the growing population.
These projects reflect ongoing urban renewal and housing expansion efforts in the Tel Aviv metropolitan area and surrounding cities, aiming to address housing demand and improve urban infrastructure.
