What is urban renewal?
Urban renewal is a concept that includes rehabilitation and construction for the greater goal of renovating older neighborhoods.
The main purpose of an urban renewal project is to increase living space while renewing a building's appearance, improving infrastructures, and benefiting residents by providing modern, advanced construction.
Urban renewal (Vacate and Build, Tama 38, building reinforcement, etc.) usually takes place in older neighborhoods to renew buildings and infrastructures that are in poor condition.
The Israeli government offers incentives for cities to begin urban renewal projects. Laws have been enacted to encourage these activities on the part of both public bodies and private companies.
The renewal process encourages the efficient utilization of land resources while improving infrastructures and working on issues ranging from insufficient parking, outdated infrastructures, and poor building appearance all the way to local landscaping and enhancing the surrounding area.
Urban renewal operates on three tracks:
Vacate and Build (Pinui Binui) Track
Vacate and Build as part of Tama 38
Building Reinforcement Track
Kardan Real Estate has applied its development and construction abilities in Tama 38 (Amendment 2) and Vacate and Build projects throughout Israel's central region.
The company is experienced in identifying and managing projects in sought-after areas and is known for its transparency and commitment to resident welfare throughout the planning and execution stages.