1,600 more homes approved for Herzliya’s Hof Hatachelet

The Tel Aviv District Planning and Building Committee has today approved for deposit the Hof Hatachelet (Blue Coast) plan for the southwest of Herzliya, including the addition of 1,600 affordable housing units for the private market.

The new neighborhood will now include 14,100 housing units in buildings of 6-8 floors between Road 2 and the seafront as well as higher buildings of 8-30 floors in the office park near Road 2. The original plan included 1,890 affordable housing units, which will be run by the Herzliya Municipality, of which 40% will be rented out on long-term leases at below-market prices, in addition to the 1,600 units now approved for the private market.

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The committee heard 46 objections to the plan and made some small changes.

The Hof Hatachelet plan also includes 640,000 square meters of public and municipal buildings, 680,000 square meters of office space, 30,000 square meters of commercial space, and 120,000 square meters of hotels with 2,000 rooms. Hof Hatachelet will also include a 690 dunam (172.5 acre) seafront park.

Published by Globes, Israel business news – en.globes.co.il – on February 27, 2022.

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