The construction of an 80-story office tower - Israel's tallest building - has been approved as part of a larger project by the Tel Aviv Planning and Building Committee. The tower will go up on a 38-dunam (9.4-acre) lot between Shaul Hamelech Boulevard and Menachem Begin Road not far from the main railway station.
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A 50-story building will go up alongside it; the two towers will add 100,000 square meters to the city's commercial real estate. The project is also expected to include two 45-story residential towers with up to 770 apartments.
The project, which is called Keren Hakirya and is being promoted by the Israel Lands Administration, must now go to the district-level planning and building committee. The whole project will add 240,000 square meters in real estate space.
"The site serves an important public purpose - embedding the light rail’s Green Line - and ... will significantly contribute to growth in the supply of small housing units in the city in a central location," said Gili Tessler, the ILA planner responsible for the Tel Aviv region. According to Tessler, the towers’ triangular prism design makes them look like the boxes for Toblerone chocolates.
This is the second site approved for construction by the Tel Aviv municipality as part of a June 2012 agreement to build the Green Line. Under the agreement signed by the ILA, the Finance Ministry and the municipality, a rail line will be built along Ibn Gabirol Street. In return, the municipality agreed to approve four projects between Ibn Gabirol and the Savidor railway station that will add thousands of apartments to the city's housing supply. Keren Hakirya is one of these projects.