Tel Aviv is Israel’s future-forward city; its bustling metropolis. As such, it seems as though the “City That Never Sleeps” is constantly in the midst of reinventing itself to meet the needs of its ever-growing population, and its habitation, occupation and leisure needs and demands. In fact, the unwavering presence of cranes, tractors and hardhats in the city hint that Tel Aviv’s near future will be vastly different from the city you know today.
How might Tel Aviv look in just five years’ time? Your wildest dreams may very well resemble the city’s likely future reality.
As the first two buildings in the “Gindi TLV” projects come to an end and begin to be populated, and the project’s third tower is worked on with zeal (occupancy in 2024), we set out to investigate what the city of Tel Aviv has in store for its new homeowners - residents and investors, in the coming years, or at least by the time the third building’s residents receive their house keys?
Plans for a larger, career-oriented population
It is estimated that Tel Aviv’s population will grow to roughly half a million residents by 2025 (from today’s approximate 451,000). This projected growth rate led the city’s mayor, Ron Huldai, to sign a Master Plan for Tel Aviv in 2016, which included the approval and even promotion of
the construction of residential high-rise buildings. The goal: accommodate the larger population, without leading to overcrowding. The Master Plan outlines a growth in the city’s housing units by 120,000, on top of the roughly 100,000 units already approved at earlier dates. This includes the transformation of today’s “New Central Bus Station” into residential housing, and the construction of an alternate bus station in the southern Ayalon region, near Holon Junction.
With a larger population, comes a need for more local jobs - of all kinds. Estimations indicate that employment rates in the city will rise from 400,000 to 486,000 by 2025, meaning that new job opportunities will necessarily be created in the near future to accommodate this need. One way of achieving this goal, outlined in the Master Plan, will be the construction of 5 million square meters of office space. Most of the additional places of work will crop up around the Ayalon and near central public transportation lines, driving more people to a more profitable and secure future in the booming metropolis.
Plans for more comprehensive & conscientious transportation options
The Tel Aviv Municipality is spearheading many changes to its roads and methods of private and public transportation, poised to benefit all city dwellers, especially those living in the city center, such as Gindi TLV residents:
Changes to the city’s principal routes
The Tel Aviv Municipality recently approved a revolutionary change to be made to Begin Street, located near Carlebach Street and the Gindi TLV Project. Begin, currently a central transportation route, will be converted into a picturesque residential street, with traffic rerouted to the city’s “new” main road, the Ayalon. Sidewalks will be widened, trees will be planted, access to the new light rail will be easy, and access will be principally for pedestrians.
The city has also approved a plan to double its bike routes, further decreasing traffic congestion and smog, for a better, healthier quality of life for Tel Aviv residents.
The light rail
Construction on Tel Aviv’s electric-powered light rail is already underway, and is expected to make traveling more efficient and environmentally friendly, making it significantly easier to get
around to different destinations in the center of Israel.
Some real estate experts estimate that the contribution of a municipal train to real estate prices along the route where it is expected to pass could increase by as much as 20% in the price of assets within a radius of 300 meters from the train stations, such as Gindi TLV Project.
Buildings and businesses along its tracks will receive renewed and upgraded infrastructure (water, sewage, drainage, electricity) to boot.
Ayalon roofing project
The 2016 Master Plan also included the roofing of the Ayalon Highway from Pinkas Street to HaHagana Street, in order to create a new, open area for walking, cycling, and other leisure and commercial activities. By covering a large portion of the city’s transportation routes in green, the Tel Aviv Municipality hopes to “address the shortage of public space and provide an attractive area for civic activities.” Similar goals are slated to be achieved through the expansion of the Yarkon Park to enable more cultural and leisure activities to be held locally.