Jerusalem Estates Celebrates Milestone of Securing Permits for Historic Development
The brilliant summer sun and passing refreshing mountain breeze were a fitting background for a day of celebration on July 3rd at the historic Schneller Compound. The unprecedented luxury development, Jerusalem Estates, had secured its final permits to proceed with its ambitious plans to develop the city’s most luxurious residential housing for charedi Jews.
On hand was an impressive group of developers, contractors, architects, financiers, bankers, and other dignitaries who joined to witness the historic milestone. “Securing the final construction permits is an all-important step in the fulfillment of a dream come true,” said Akiva Zuravin of ISA, which is developing the project.Jerusalem Estates Celebrates Milestone of Securing Permits for Historic Development
The event began with the dignitaries and other participants leaning against the scaffolding overlooking the construction site. They toured the site and saw the completed basement floors and the newly poured cement that covers the completely finished parking level and the exclusive tunnel that will ferry the dwellers directly to the main thoroughfares of Malchei Yisrael and Yermiyahu streets.
Bank Hapoalim Executives Love What They See and Want More
Amongst the distinguished group of dignitaries that gathered for the ceremony on July 3rd when the final permits for the construction of Jerusalem Estates were granted, were high-ranking officials from Bank Hapoalim. As financiers of the historic development, they had come to witness the progress of the construction and the commencement of the next phase of the development. They included Shimon Edri, Director of Client Relations, Jerusalem Business Sector, Yigal Bindes, Director of the Jerusalem Business Sector and Dalit Raviv, Director of Commercial Banking. They were joined by Attorney Chagai Shmuel from the Offices of Yigal Arnon, who has been associated with the project from the outset. The bankers could not have been more pleased. They found that more than 60% of the first phase (approximate $70 million value) was already sold. They immediately advanced the idea that the commencement of the second phase of the construction should be accelerated. The Bank Hapolalim officials expressed admiration for the professionalism of the developers and contractors and the most timely completion of all mileposts.
What was astounding was just how much the bankers felt “at home.” It isn’t often that bankers get to see all their expectations fulfilled, and then some. No wonder that they were looking ahead to the completion of the first phase, the commencememnt of the second phase and ultimately to the completion of all 13 buildings.
A Rare Award to Construction Team…
During Comstruction
It isn’t often that a construction team receives an award when the project is in its early stages, but that is what happened on July 3rd during the “Permits Granting” ceremony at the historic Schneller Compound. There was a surprise presentation to Ephraim Kahane, the general manager of the construction effort. It was presented by Yechiel Turgeman, the chief supervisor of the Ehud Tayar Co. which is supervising the construction.
The award recognized the high standards of construction, professionalism of the development team and especially the meeting of all deadlines. For Mr. Kahane, the pristine appearance of the construction site is already a harbinger for the future magnificent aesthetics of the development. He can point to so many differences between the excellences of this construction site as compared to others. It only takes a quick tour of the site to appreciate those differences.
Permits in Hand, the Construction of Jerusalem Estates Moves Forward
Perhaps the most emotional moment at the July 3rd ceremony at the construction site of Jerusalem Estates came at the conclusion of the ceremony when the celebrated architect Yehuda Feigin presented the Building Permits to Roi Gila, the contractor. Mr. Feigin, the chief architect of Jerusalem Estates is known for his design of some of Israel’s most luxurious properties including the Jerusalem Waldorf Astoria. With the permits in hand, the developers anticipate a rather expedited timetable of construction of the floors above the completed sub-levels including an expanded Phase I completion which will surpass the anticipated original 130 luxury units (of 440 that will eventually be built).
Mr. Feigin proudly showed off his architectural plans. He noted: “The authentic Jerusalem courtyards from the early Jewish settlements outside of the walls of Jerusalem is what inspired my design for Jerusalem Estates. A shared courtyard, full of magic, provides for spectacular beauty as the foyer that leads pedestrians to the surrounding homes.”
As the assembled left, they took a long look at the amazing topography of the project. Residents will have a towering view of the beautiful Yerushalayim landscape with its panoramic snapshot of the adjacent celebrated neighborhoods. The huge photographs that were on the walls of the construction office showed the magnificent project with its completed buildings and luxury lobbies that lead to the private gardens. Jerusalem Estates will be the city’s first gated community.
Jerusalem Estates First “Gated Community” in Holy City
For the many foreign buyers of Jerusalem Estates, one of the most important features of Jerusalem Estates is the privacy and serenity of the development. What will make this development so unique is not only the luxury and quality of the construction but the fact that it will be a completely “gated community,” the first in the city. Architect Yehuda Feigin had privacy in mind when he visualized the magnificent luxury development which continues to rise.
At Jerusalem Estates privacy is defined as living in an apartment that offers a tranquil environment, providing the maximum services to the individual tenants, ranging from the business lounge to an exclusive shul. It means walking into a well-appointed lobby with a regal décor that is separated from the rest of the development. It also spells a walk in a private park that leads from the lobby to the historic building
