Jerusalem Neighborhood to Undergo Major Redevelopment with 720 New Apartments
An urban renewal plan in Jerusalem's Kiryat Menachem neighborhood has been approved, replacing five old buildings with 115 apartments with 720 new residential units. The project will also add commercial and employment spaces and is located near the light rail. The plan, which aims to revitalize the neighborhood entrance, is part of a larger renewal effort in the area.
הידיעה ב-5 שורות · תקציר של baba
- Jerusalem's Kiryat Menachem neighborhood will see 115 apartments replaced by 720 new units.
- The urban renewal project includes commercial and employment spaces totaling over 8,000 square meters.
- The development is situated between two stations of the Jerusalem light rail's Red Line.
- The project involves the demolition of five existing residential buildings.
- 44 new apartments are conditional on establishing a 30 million shekel maintenance fund.
A significant urban renewal project in Jerusalem's Kiryat Menachem neighborhood has received final approval, paving the way for the demolition of five existing buildings containing 115 apartments and their replacement with modern structures. The plan, spearheaded by TABA Capital in collaboration with apartment owners, will introduce three residential towers and two 10-story buildings, totaling 720 new apartments. This represents an increase of 605 units from the current housing stock. Additionally, the project will incorporate approximately 2,800 square meters of commercial space and 5,300 square meters for employment, situated on the lower floors of the new buildings. The development also includes provisions for a daycare center, six kindergarten classrooms, and three synagogues. Parking will be located in an underground shared facility serving all buildings.
The approved plan covers an area of approximately 13.9 dunams (about 3.4 acres) and is strategically located between two stations of the city's Red Line light rail. To enhance accessibility, four 24-hour public pedestrian crossings will be constructed, connecting Iceland Street with Mexico and Henrietta Szold streets. The project allows for the construction of smaller units, ranging from 25 to 40 square meters with separate entrances, in a significant portion of the new apartments. However, 44 of the planned units are designated as conditional, contingent upon the establishment of a long-term building maintenance fund estimated at 30 million shekels.
This redevelopment joins another urban renewal initiative nearby, "New Iceland," which is already in the licensing stages. Together, these projects aim to create a continuous urban renewal corridor along Henrietta Szold Street, near the light rail stations. The combined developments will offer about 10,000 square meters of employment space, alongside commercial areas, public facilities, and open spaces. A public underground connection between the two complexes is also planned, intended to transform the character of the buildings and public spaces at the entrance to Kiryat Menachem.