The Tel Aviv local planning commission approved transforming the Sharona complex in the city's southern Kirya area into a huge shopping and entertainment center.
The neighborhood, originally established in 1871 by German Templers, is in one of the most sought-after and expensive areas of Tel Aviv, located between Kaplan, Begin, Ha'arbaa and De Vinci Streets, just south of the IDF headquarters complex.
The neighborhood contains 33 unique, low-rise buildings designated for historic preservation.
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The developers who win the tender for leasing the 48 dunam (12 acre) complex and buildings will be required to renovate according to a preservation plan. The tender is scheduled to be published in April.
The plan includes 27 buildings with 13,000 square meters of space for stores, coffee houses, restaurants, pubs, boutique hotels, art galleries, auditoria and a spa.
Six additional buildings with 2,500 square meters of space are for public use, such as a visitors center and a college extension.
In addition to the recreational and shopping area, there will also be high-rise offices, hotels and residences: 500,000 square meters in all. These will include 650 apartments.
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