Yaaz Development and Construction received four building permits in the past quarter for projects in Tel Aviv’s District 4. Together, the four projects will add 91 new apartments on Sharett, Pinkas, Lisin and Olei HaGardom streets.
The permits were issued at a time when developers in the city are dealing with rising overhead and financing costs, schedule delays and labor shortages. All four projects involve demolishing existing buildings and replacing them with new ones.
The Four Projects
- 30 Sharett Street: The existing four-story building with 11 apartments will be replaced by an eight-story building with 24 apartments. The project will include underground parking and a bicycle room, with design by Zeit Lev Architects.
- 10 Pinkas Street: An eight-story, 25-apartment building is planned for the corner lot next to Epstein Alley, replacing a 12-apartment building. The plans include four-room apartments, underground parking and a bicycle room. The architect is Yoav Messer Architects.
- 27 Lisin Street: A seven-story building with 21 apartments will replace an older four-story building with 12 apartments. The design by Alon Ben Nun Architects includes underground parking and a bicycle room.
- 14-16 Olei HaGardom Street: Two four-story boutique buildings with 21 apartments will replace a two-story, eight-apartment housing block. The project will include underground parking and a bicycle room, with design by XS Architects.
Tomer Reifman, CEO and owner of Yaaz Development and Construction, said market conditions require the company to plan carefully and manage costs closely. He said the company is now preparing to begin construction and expects demand for new housing in the city’s high-demand areas to remain stable.
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