Calcalist, Ronen Niv, 26.07.2020
The facelift that Bat Yam has undergone in recent years is translated into extensive activity in the field of urban renewal. One of the centers of activity is the northwestern part of the city, which, thanks to TMA 38 projects and evacuation-construction, is rebranding itself.
After being identified for years as one of Bat Yam's least glamorous neighborhoods, the neighborhood is now coming to life, and is gradually beginning to realize its potential thanks to its proximity to the sea and the promenade. When one also considers the vision for the development of the coastal strip, and the plan for the construction of the marina, then the demand that is already well felt in the area, is only expected to climb.
"The existing density in the cities, along with the dwindling number of coastal areas available for construction, make the apartments near the sea attractive," says appraiser Roy Blair, a partner in the Blair Katz-Aharonov real estate appraisal firm. "This attractiveness leads to an increase in the value of apartments, sometimes tens of percent in relation to apartments of a similar size that are not close to the sea. In practice, we see that the smaller the distance between the apartment and the beach, the higher its price."
Blair's remarks are well reflected in the prices of apartments in the northwestern neighborhood, which are recording an impressive jump. Madeleine data show that the average price of an apartment in the neighborhood climbed from NIS 962,000 in January 2011, to NIS 1.736 million at the beginning of 2020 - a jump of more than 80%.
A bustling urbanity
The opportunity offered by a city beach real estate renewable identified early New US (NEW ERA), leading from urban renewal in Bat Yam. The company has about ten projects throughout the city, with the focus now on the SEA WAY project, in the northwest neighborhood, located only 70 meters from the shoreline, and the marketing of the apartments in it is currently underway.
This is a project in the TMA 38/1 route (strengthening and addition), as part of which an old building will be restored and will become a modern and modern boutique building. "We conducted a comprehensive analysis before we decided to come to Bat Yam. We strongly believe in the process that this city is going through, "says Oleg Lukinsky, partner and CEO of New USA.
"The northwest of the city, which was a sleepy and uninviting area, now offers bustling urbanity in the good sense of the term - thanks to a variety of shops, educational institutions and playgrounds for the younger generation, as well as its proximity to Jaffa, which itself is undergoing a renaissance."
As part of the project accompanied by Bank Hapoalim, the existing 15 apartments will be joined by the completion of the work, 12 new apartments, including two luxury penthouses with huge balconies of over 60 square meters that will offer an open view of the sea and the promenade. Expected in about two years.
Most of the apartments in the project are of 3 rooms in a varying size range - and their price on the Free Sale starts at NIS 1.8 million. The penthouse apartments, on the sixth and top floor of the building, have 4 and 5 rooms, and cost NIS 3.7 million and NIS 4.4 million. In the planning of the project, parking issues are also addressed, with a designated parking lot for the benefit of the tenants.
"The referrals we receive come from a diverse audience," Lukinsky expands. "The penthouses are a different story. Here, most of the interest is registered among housing developers and foreign residents."
New USA CEO Oleg Lukinsky Photo: Moshik Lindenbaum
Optimal accessibility
Beyond the apartments themselves, one of the most notable benefits the project offers lies in its transportation accessibility, both for public transportation users and private car owners. For example, commuters using the Israel Railways are expected to arrive at Wolfson Station quickly and easily. The light rail, which will start operating in a few years, will also pass near the project, with the distance from the building to the designated station being less than a five-minute walk.
In addition, as part of the infrastructure development process, a future network of hiking trails, bicycles and scooters will allow access to the Yarkon. Private car owners will enjoy proximity to Ayalon lanes, with a trip to Tel Aviv lasting only about 10 minutes. "It's important to look at the big picture and understand that in a few years Bat Yam is going to become something completely different from what we knew," Lukinsky concludes. "The SEA WAY project is a tangible expression of this revolution."
SEA WAY Project - ID card
The project: Strengthening, condensing and renovating a building that is decades old, and turning it into a 6-story boutique building with 27 apartments
Location: Northwest of the city, Bat Yam
The mix: 3-room apartments and 4- and 5-room penthouses
Prices: from NIS 1.8 million for a 3-room apartment; NIS 3.789 million for a 4-room penthouse; NIS 4.454 million for a 5-room penthouse
Population: 2022
Entrepreneurial Company: New USA
Project Architect: One Line Architects