Hotel and apartments to highlight the place of Basel in Tel Aviv
The Magen David Adom (MDA) ambulance building on Basel Square in the old north of Tel Aviv will soon be demolished and replaced by an exclusive development, which will create a new urban atmosphere in the popular square. The new building will include a 130-room hotel with thirteen apartments of 250 to 300 square meters above, for an investment of 600 million shekels. The challenge for developers and architects was to design an elegant and prestigious building, which was not a tower and complemented the surrounding neighborhood and plaza.
Covering 2,500 square meters of land, the MDA building has served the city since the 1950s. In 2019, the building was sold by the Tel Aviv-Yafo Municipality in an auction process to a White City consortium. Buildings (40%), the JTLV2 Fund (40%) and Isrotel Ltd. (TASE: ISRO) (20%) for 250 million shekels.
Gidi Bar Orian, the architect responsible for the design of the new development, believes that a lower, textured building blends in best with the surroundings. “City towers are out of fashion in many ways. People understand that living in a tower means standing with others in the elevator, and there is alienation, so that maybe. being you have a view from above, but there are strong winds and you cannot sit on the balcony. People come from huge houses of Kfar Shmariyahu and want to live in spacious apartments and walk everywhere. view is secondary. “
He added: “It’s a very special urban location and that’s one of the reasons I love this neighborhood. It has the feeling of a European street with roadside shops. hotel will have three floors with commercial space on the ground floor. “
Alon Baranowitz of Baranowitz Kronenberg Architects is responsible for the interior design of the project. He said: “The price stems from the uniqueness of a project, which is the result of the location, which is central but quiet. The second thing is that a lot of people are fed up with towers. This building, which has two separate entrances for tenants., is both intimate and quiet. The third thing is the synergy with the hotel. Tenants can enjoy the spa, meals from the various restaurants and room service. are huge apartments with long balconies. “
It is estimated that once completed, these apartments will sell for tens of millions of shekels each. Existing apartments in the neighborhood are selling for much less, according to the Madlan website. A 127-square-meter apartment on the 13th floor of the Basel Tower at 35 Basel Street is sold for 9.9 million shekels, while an 81-square-meter apartment on the third floor of a five-story building is for sale for just 6.5 million shekels.
Posted by Globes, Israel Business News – fr.globes.co.il – on May 26, 2021
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