The Herzliya Local Planning and Building Committee has approved a plan put forward by the Ackerstein Group (TASE: ACKR) that would see the Ackerstein House demolished and replaced with a 30-story mixed-use tower containing apartments, offices and commercial space.
Beit Ackerstein is located at the northern entrance to the Herzliya Pituach industrial zone between Medinet HaYehudim and Hameda streets adjacent to the coastal road (Route 2). The current building consists of only five floors with an area of 5,500 square meters. The new tower will be built on a plot of land of 2,360 square meters.
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The new tower will include 59 small apartments, each with an area of about 50 square meters, including 12 apartments that will be rented for 20 years at a 20% discount, as part of the affordable housing plan.
This article was published in Globes, Israeli Business News – en.globes.co.il – on August 21, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
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