YAD ELIYAHU, TEL AVIV

Acquired: 2010        
 
A 3,400 sqm plot with a 2,250 sqm. building that was previously a Bezeq telephone exchange, located on the corner of Moshe Dayan and HaHagana streets.

Zoning designation at acquisition: Light industrial use.

Betterment measures: Reality Fund promoted a plan to rezone the site for student housing, sheltered housing, and commercial use, while enhancing the areas for public use.

As interim use of the property, Reality Fund established the “Rova 9” project, a unique neighborhood venture that encourages community and social entrepreneurship in cooperation with Tel Aviv Municipality, and offers a wide range of activities in the fields of culture, arts, education, and promotion of young people, women and employment. Additionally, parts of the building were leased to the College of Insurance and other tenants, and an area was allocated free of charge to the volunteer lifesaving organization United Hatzalah of Israel.