Haifa plans large residential project

Three new neighborhoods will be built on the western slopes of Mount Carmel.

The Haifa Regional Planning and Building Commission has approved for deposit a plan for the construction of 3,200 apartments on the Lincoln and Tel Aharon ridges on Mount Carmel in the city. The Haifa Municipality submitted the plan, which will be the largest residential project in the city in years.

The project aims to boost the supply of housing in Haifa, and attract desirable demographic segments necessary for the city's growth. The plan covers 840 dunam (210 acres) on the western slopes of Mount Carmel between Harofeh Street and Freud Street down to Road 11 at the Castra Shopping Center at the foot of the ridges.

The plan will have three neighborhoods: Lincoln Slopes, Tel Aharon, and a lower neighborhood west of Freud Street. The plan increased the building rights to 160% of the lots and the density to an average of 14 apartments per dunam (56 per acre).

Published by Globes [online], Israel business news - www.globes-online.com - on January 31, 2010

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