Franciscan Church to sponsor Jaffa housing project
Project located on Jaffa-Bat Yam border to include 124 apartments in three buildings
The Franciscan Church plans to sponsor the sale of the cheapest apartments in Jaffa. The project stretches over an area of 3.4 acres on the Jaffa-Bat Yam border.
The area borders Yefet Street from the east, Sifte Yeshanim Street on the north, the Greek Catholic cemetery on the south and Kedem Street on the west.
The church, which is acting as an entrepreneur called Custodia Di Terra Santa, plans to subsidize the project while waiving the entrepreneur's profit and reducing the apartment prices by some 20%.
The City Building Plan allows the construction of 110 housing units, but the Tel Aviv Planning and Construction Committee recently approved an addition of 14 apartments following a request made by the church.
Some $15 million will be invested in the project, which will comprise three buildings with four, five and six floors and include one-room, two-room and three-room apartments. The project is being planned by the Lir Architects firm.
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