The Corporation for Urban Renewal was founded in 2009 and is the Israeli market leader in the management and execution of Evacuation and Construction ("pinui-Binui"), as well as National Outline Plan -TAMA 38 projects.
Urban renewal projects are a major trend in the expansion and growth of Israeli real estate. As several major Israeli cities have no more room to grow, municipalities have allowed older buildings to be renovated, giving the city a “face-lift”, as well as strengthening buildings in order to withstand earthquakes.
Some such projects require the full evacuation of tenants while significant renovation and construction takes place – referred to as Pinui Binui (evacuation-construction). Other projects enable strengthening and expansion of buildings as tenants remain in existing apartments. These are referred to as Tama 38 projects.
The Corporation for Urban Renewal holds in its inventory approximately 8000 units with 40 full relocation-evacuation projects at various levels of execution.
The company provides a full-cycle business outlook per project, based on its thorough knowledge of regulation and long standing relationships with municipal as well as governmental planning and construction committees.
It collaborates closely with financial, legal, architectural and construction experts to ensure the highest quality building solutions.
An ultra-luxurious building offering 265 condos and lofts, spa and recreational center, in a 46-story residential tower in Old Tel-Aviv. Upon its completion in 2007, it was Israel`s highest residential building. Winner of Most Innovative Design and Structure awards
Located in the heart of Tel-Aviv’s business district, this ultra-modern 160,000 sq.ft. business complex was completed in 1994. The building is a winner of numerous design and style awards and was home to Motorola and Pelephon – Israel`s first cellular phone operator.
This upscale building complex includes 153 apartments and a 43,000 sq.ft. commercial center. The commercial center served as the regional headquarters for Bank Hapoalim, Clal Pharm, Metro Super Market and the municipal library of Netanya. The project was completed in 1997.
This unique 320,000 sq.ft. business center is located in the heart of Israel’s southern port city, Ashdod. It includes two commercial floors, four floors of office space and a large parking lot. The building was completed in 1998.
This lavish project located in an upper class neighborhood in North Tel-Aviv, was designed and developed by Kital, to include 2 double towers with a total of 220 condominium units. The land and project design and was sold in 2008 to Africa Israel Corporation for execution.
From 1990 to 1992, during the peak of immigration of Jews to Israel from the former Soviet Union, Mr. Kushnir actively created urgently needed housing solutions for the new arrivals. Out of a total of 80,000 new units built in Israel in 1991, Mr. ushnir completed two major projects within 14 months – 1,000 apartments in the southern town Dimona, and 1,000 apartments in the southern coastal city Ashkelon. Mr. Kushnir’s company was awarded a special bonus by the Israeli Government for its speedy completion of these projects. Furthermore, Mr. Kushnir imported from the U.S. and built 400 pre-fab homes for new immigrants. The total cost of these projects was approx. $150M.
In 2005, the project, as skeleton, was bought while under foreclosure from Bank Leumi and re-designated from senior citizen residences to regular housing status. It included construction at highest standards of 110 units, completed and immediately sold out in 2009.