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Monday, 03 December 2018 10:09

Developing the Moreshet Neighborhood

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Developing the Moreshet Neighborhood Photo courtesy dovrut Modiin Maccabim Reut

Work on the new Moreshet Neighborhood is underway. After the construction of the roads (the earthworks) in the neighborhood has been completed, the plots have been handed over to the developers, and now there are already contractors beginning the earthworks and prepare the foundations for construction. At this time, the Iriyah through the Economic Development Company is working on the development of the neighborhood and preparing infrastructure work. The first stage of work includes establishment of drainage and sewage infrastructures as well as earth work to prepare public areas such as parks and schools that will be built later on in the neighborhood.

Moreshet is being built west of the Avnei Chen neighborhood across inner-city route 3 and north of the Nofim neighborhood. The neighborhood covers about 1,686 dunams, making it one of the largest neighborhood in the city with 4,200 housing units. There are 2,529 apartments that are set aside for low-cost housing and at least 20% (505) of those for residents of Modiin Maccabim Reut. There will be five schools and 25 preschools. There will be a bike path next to the roads, at a cost of 600 million shekels.

The neighborhood is being built on the plot of land that had been known as Area P. The naming committee chose the name “Moreshet” and the street names will be for events, customs or people that impacted the country in different areas.

The Moreshet neighborhood is part of the agreement signed in January 2014 between the Israel Land Authority, Ministry of Finance and the Ministry of Housing and Construction and Iriyat Modiin Maccabim Reut. As per the agreement, the land of the new neighborhoods will be developed by the city’s Economic Development Company, with Moreshet being the third neighborhood of the agreement, after Nofim and the City Center. The fourth neighborhood will be Givat Sher.

The umbrella agreement stipulates that the project budget will be managed as a development budget, in a closed financial market, exclusively for the development of the city, and it is not dependent on the national budget or its approval. The Israel Land Authority will transfer funds to the Iriyah in stages, the budget is estimated at hundreds of millions of shekels. As part of the agreement, the Iriyah will undertake the planning and building of the public institutions in accordance with the timetables, so that the buildings will be ready when residents move in, with schools and preschools completed as residents move into the neighborhood.

Last modified on Tuesday, 04 December 2018 08:29
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