The Herzliya Local Planning and Building Commission has decided to deposit the Hof Hatchelet (Turquoise Beach) project for 10,000 housing units on a 2,200-dunam (550-acre) site between the city and Tel Aviv, which has been in the works for decades. The project also calls for 250,000 square meters of business and commercial space and five seafront hotels.
The residential buildings will be 7-14 floors each, with the lower buildings on the western side of the land and the higher buildings closer to the Mediterranean. 30% of the apartments will be three rooms of up to 75 square meters in size. 63% of the private land will be expropriated for green spaces and public buildings.
Herzliya Mayor Yonatan Yasour said, "Herzliya's large land reserves have been released for construction. This is a great day for the city and for young couples, because the plan includes lots for affordable housing, and 30% of the plan includes small apartments."
Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2013
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