The Levinstein Group, in partnership with Gil Development (50:50), has recently begun construction on a 31-story tower comprising 117 residential units in the new Hatzuk neighborhood of Netanya, located between Ir Yamim and the city center.
This is the first construction project in the new neighborhood, which will include 3,000 housing units. The project is expected to be occupied in August 2021 and is currently at the excavation and coating stage, with the building permit expected to be received in about a month.
The new project is part of a combined transaction between the Levinstein Group and the aforementioned partnership with Gil Development for private landowners. According to the agreement, the limited partnership will sell 44 residential units across the entire project, while the remaining 73 residential units will be owned by the landowners. Prices start at 2.3, 6 million NIS for 4-room apartments. The project is planned by architects Lea Rubanenko and Liora Niv Promchenko.
The Hatzuk neighborhood is situated on an area of 885 dunams and will include 3,000 housing units. Located between the city of Yamim and the city center, next to hotels and the sea, on the road connecting the new Netanya to the old one, closer to the old one, in the northern part. Its borders to the east are on Ben Zvi Street; to the west on Ben Gurion Street, next to the hotel complex, the planetarium, and future government offices; to the north on Abrahams Street; and to the south on Levi Eshkol Street and the Alexandroni Brigade memorial.
“With Gilil, we are pleased to lay the cornerstone of the Hatzuk neighborhood in Netanya, the new neighborhood of the city,” said Sharon Ben Zvi, Vice President of Marketing at Meshulam Levinstein. “The tower we are building in the neighborhood is a unique and prestigious tower, located on the second line and facing the sea, near the hotels and the promenade.”
The Levinstein Group was established in 1964 and is a public company consisting of engineering, construction, and real estate companies, with five divisions – housing, offices, logistics, urban renewal, and execution.
