This week, a large-scale urban renewal project was launched for the first time on Derech HaShalom in Tel Aviv, one of the city's main entry routes. Two buildings at 87-89 Derech HaShalom were demolished, bringing an end to a long period of anticipation for the residents, who stood excitedly on the side and watched as their project finally became a reality.
The project, named HELLO Tel Aviv and promoted by Oron Real Estate, is part of a broad urban renewal plan along the corridor connecting Tel Aviv and Givatayim. In the first stage, four new buildings will be constructed in place of the demolished ones - two facing Derech HaShalom and two facing Amishav Street in Givatayim - comprising a total of 172 new housing units.
During the event, 59 yellow balloons were released into the sky as a symbol of solidarity with the hostages and their families. Attending the event were the evacuated residents, company staff, representatives of the law office of Adv. Yariv Bar Dayan, and other guests.
At the same time as the demolition, the detailed plan for Phase B of the project was also approved for deposit. This phase includes the buildings at 93–101 Derech HaShalom. In their place, approximately 420 additional housing units will be built, bringing the total number of new apartments in the complex to 592 — a transformation expected to significantly change the face of the “Shalom Corridor.” The project was designed by the architectural firms Canaan Shenhav and Tzipor Barak.
Mario Koppel, CEO of Oron Real Estate, said at the event: "We are excited and happy to embark on this journey. In the current period, promoting urban renewal projects in outdated and unfortified buildings is more important than ever. These projects are far more than just construction ventures - they offer a real opportunity to generate meaningful social change in areas that need it most. The gift we’re giving the residents - the opportunity to live in a modern apartment, in a new building, in the heart of a rejuvenated neighborhood - is much more than just a building project."
Adv. Yariv Bar Dayan, whose office represents Oron Real Estate, expressed his pride and joy at seeing another urban renewal project set in motion. "The advancement of this project began about a decade ago, and the day of demolition and the start of construction is a day of celebration both for the company and for the apartment owners, who will, in the not-too-distant future, live in new and secure homes." Bar Dayan also noted that this is another urban renewal project in the chain of projects his firm is leading to fruition, and the significance of its success is especially notable against the backdrop of the prolonged war and the ongoing threat of missile attacks.