Tuesday, September 23, 2014

White City Residence to add another 8 floors?

Just months away from the scheduled delivery of White City Residence to its future residents, Zemach Hammerman and Eurocom just received approval from the Planning Commission of Tel Aviv for an additional 8 floors that would bring the tower to a total of 38 floors and 157 appartements.

In addition, the Commission revoked the duties imposed by the municipality to the promoters, such as the road widening, the construction of a kindergarten and a synagogue, as well as the relocation of the Orthodox girls' school Ohel Jakob to Bnei Brak.

Originally the tower was supposed to be a 30-story building and the developers seeked to increase it to 41 floors. They were then given the option to increase the tower to 38 floors in exchange for public duties. But that option was subsequently cancelled following opposition from Neve Tzedek residents.

The developer is now looking at its options as adding the additional floors after the penthouses have already been built will add further costs and delays to the delivery along with significant penalties.

UPDATE: It just took a few days for the Neve Tzedek residents association to appeal the court decision. This drama is therefore far from over. To be continued...

Source The Maker

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