Luxury project to replace Basel Hotel
Only half a year after its renovation, mythological Tel Aviv hotel to be destroyed, replaced by David Fattal's Leonardo Boutique Hotel. Luxury apartments measuring 500 square meters in size to be built on top floors, with small swimming pool in each flat
Tel Aviv's mythological Basel Hotel – one of the city's oldest guesthouses – will be destroyed. It will be replaced by a new four-story boutique hotel, with three additional floors including six luxury apartments measuring 500 square meters each.
The hotel, which is located on 156 Hayarkon Street and was opened in the late 1960s, belonged to the Atlas Hotels chain. It was bought by the Fattal chain about half a year ago for $21 million – a sum reflecting the value of the land it was built on and of the possibility of constructing both a hotel and an apartment building in the same place.
After the hotel was bought by the Fattal chain, it was closed and underwent a renovation at a total cost of about NIS 5 million (about $1.36 million), and a wing used as a separate and independent health clinic was added to the building. The renovated hotel, which was opened about a month ago under the name Leonardo-Basel has 135 rooms, a swimming pool and a business lounge.
The hotel was renovated by German hotel designer Andreas Neudahm. The hotel's renovation is aimed at making it operational for two years. Throughout this period, the Fattal Hotels chain hopes to receive all the permits for its demolition and for the construction of the new hotel with residential floors on top.
According to David Fattal, the plan for the construction of the new hotel is currently being examined by the District Planning and Construction Committee. The request submitted by Architects Yehuda and Yoel Feigin is for construction on an area of about 7,000 square meters (75,347 square feet).
About 40% of the area will comprise of three floors of apartments, each with two flats measuring 500 square meters (5,381 square feet) in size, which will be sold for millions of dollars each. Each apartment will have a small pool on its balcony. The hotel's first four floors will include 120 rooms, and it will be defined as a boutique hotel.
Fattal adds that the construction of the new hotel and residential apartments is estimated at $25 million, and he believes the hotel will be ready within two years after the completion of all permit and objection procedures.
The original Basel Hotel opened in 1968 by contractor Meir Spiegel. The original structure was an office building, and the contractor was given a permit to turn it into a Swiss style hotel. He recruited Leslie Adler, a graduate of the Lausanne Hotel School in Switzerland, who today owns the Atlas boutique hotel chain.
The Basel Hotel's location on Hayarkon Street – before hotels were built on the coastline – made it one of the most wanted hotels in the city in the 1970s. It was ranked a four-star hotel and continued to be a desired hotel in the 1980s and 1990s. Several years later, it became part of the Atlas Hotels chain. In the past few years, until the renovation, the hotel's maintenance was neglected and its status deteriorated in the competition against hotels located on the coastline.
David Fattal. $25 million invested in construction
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