The Urban Renewal Corporation
About The Urban Renewal Corporation
The Urban Renewal Corporation is one of Israel’s leading and most stable urban renewal companies, with experience in leading approcimately 38 successful projects and more than 9,800 apartments in planning and execution across Israel. The company is projected to build at least 1,000 apartments in each of the next three years, with an overall transactions scope of a billion NIS. Our experience proves beyond all doubt, that the path to successful projects goes through the creation of a discourse of partnership with the apartments’ owners, in responding accurately to their needs and wishes, and in creating a real and continuous partnership with them. This vision underlies our success story, which includes dozens of projects across Israel with thousands of families that became part of our family. Tal Goldstein and Ami Kahalon, the company’s founders, and managers, established the company in 2009, and ever since it has been considered to be one of the first and leading companies in the urban renewal segment, which contributed to the segment’s significant transformations. Ami was one of the first ambassadors for urban renewal, which he recognized early on as an appropriate solution for the housing crisis and a top-priority national-social interest, in Israel. Tal started his career in real estate entrepreneurship in the U.S. in the early 1990s and founded a company that specializes in real estate marketing, construction, and management, which became a leader in its field in the U.S. market. Urban renewal processes embody the optimal way for exercising the right to a new apartment, together with an unprecedented opportunity to renew the old streets in city centers, provide a safe living environment, create an appropriate inventory of apartments, and lead to urban and national growth across the length and the breadth of Israel.
The Company’s Operations
The company’s operations in developing Pinui-Binui (demolition and reconstruction) projects is currently apparent in several cities, including Tel Aviv, Bat Yam, Ramat Gan, Bnei Brak, Givat Shmuel, Nes Ziona, Petach Tikvah, Holon, Beit Shemesh, and Herzliya, and always aims to bring creative solutions for the need to increase the number of residential units in saturated urban areas with old, sometimes dangerously worn out apartment buildings. In many of the cases, the projects are facilitated thanks to the company’s success in conducting with local and regional government planning authorities, that often lead to urban renewal unprecedented achievements. The company initiated and is responsible for the trailblazing Pinui-Binui project on 64-68 La Guardia Boulevard in Tel Aviv, where three old ”train” (row block) apartment buildings with 72 units were demolished and replaced with a complex of four 7-9-story buildings with a total of 275 residential units and additional commerce areas. This impressive project is progressing rapidly, with population expected to start already in October 2020. The project is valued at about NIS 630 million, and its effects on the neighborhood’s texture are already felt, even though its construction is yet to be completed. Simultaneously, the company is successfully leading other large-scale projects in the Yad Eliyahu area, amounting to about 600 apartment units as well as commerce and public areas. These projects, which are at advanced permit stages, would greatly transform their surroundings and revive this old neighborhood.
As aforementioned, the company has significant achievements in additional cities, where it leads dozens of Pinui-Binui projects at advanced stages. The NEO HaRo’e project in Ramat Gan (151-153 HaRo’e St.), valued at about NIS 210 million, is a gorgeous project with construction permit as of January 2020, which construction already started, and where the demolition of two old buildings with 38 apartments will be proceeded with the construction of two modern and unique buildings with 108 residential units. The project is pending construction.
Also launched in 2020 is the NEO on the Hill Project in Givat Shmuel, valued at NIS 250 million. This is a large-scale project at the city’s west side on 2-6 Ben Gurion St., where two 15-story towers with 148 apartment units will be built in place of three existing buildings with 36 units. The project is in advanced permit stages and is being marketed to the public as of summer 2020.
The company is also the force behind another large-scale project - NEXT HaTayasim in Tel Aviv (in cooperation with BSR), which has advanced to final permit stages and is pending marketing. The project includes the demolition of six apartment buildings on the streets 6-10 HaTayasim and 10-14 Bernfeld (72 units in total) and the construction of four 7/9-story residential buildings with 260 units. The company is also promoting Pinui-Binui projects outside of Central Israel, including the NEO Ramat Lehi in Beit Shemesh, a mega-project valued in 1.1 billion NIS, that was approved by the National Committee for Planning of Construction of Preferred Areas (“VATMAL”) in January 2020, for the construction of 1,053 residential units in 10 new buildings ranging from 9 to 24 stories, instead of the existing apartment buildings from the 1950’s with a total of 176 units.
Throughout its years of operations, the company has been demonstrating tremendous momentum, strength, and expertise, that are expressed, inter alia, in its ability to work vis-a-vis the local and national planning authorities to rezone Town Construction Plans(“TABA”), thus enabling projects to become a reality rather than just a plan on paper. These are complex and lengthy processes, that require enormous professional and financial resources, which the company demonstrates consistently and to a great length. Over the past few years, the company promoted rezoning over 20 projects across the country.
Strength, Leadership and Cooperation with the Apartment Owners
The company orchestrates its projects with impressive professionalism, while serving, across the entire process (several years) as a continuous anchor for the apartment owners. Its project managers and, and even its CEOs, maintain ongoing connection with each and every apartment owner, and offer any advice and attention regarding any project-related topic.
Active in the complex Pinui-Binui arena and having to deal with transferring tenants to temporary substitute housing and demolishing houses (of course, for the purpose of building better ones), the company leaders have always been especially attentive to making sure that homeowners are always placed at the center - they are “the heart and soul” of the project as they are truly the landowners. The company receives their confidence in the mandate to promote and execute the project, and in return the company secures their valuable asset and shows full transparency and individual attention.
In 2018 the company joined Jerusalem-based ISA Group to establish the Jerusalem Renewal Company, which currently promotes about a dozen plans in several neighborhoods of Jerusalem and Bnei-Brak, with thousands of apartment units and extensive commerce areas.
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