The most valuable parcel of undeveloped property on Israel’s central coastline, with a rich historical significance, is finally being deposited in order to advance a plan. A massive residential and commercial development at Hof HaTchelet, a name deeply rooted in our heritage, has finally been deposited after twenty years of hearings, permits, and objections. All the parties are now prepared to move forward to create what will become the most desirable new neighborhood on Israel’s central coast, a project that resonates with our past and shapes our future.
The Hof HaTchelet project is launching on an unprecedented scale, marking a significant milestone in Israel’s development history. The 500-acre parcel will contain 12,500 residential homes in condominium-style apartment buildings, a testament to the magnitude of this endeavor. There will be over 7 million square feet of office space, 300,000 square feet of commercial space, 2,000 hotel rooms occupying 1 million square feet, as well as 680,000 square feet of government, municipal, and public buildings. Along the six-kilometer coastline will be a 170-acre park, a grand space for leisure and community activities. An active archaeological dig on the site, which draws substantial tourism and school visits, will be available for residents to access freely, adding to the grandeur of this project.
The name “Hof HaTchelet” has been translated as the “Azure Coast,” the “Turquoise Coast,” and other colors in the blue-purple spectrum. Everyone who reads the Torah/Bible knows the color techelet. In the third verse of the Shema Yisrael, we are commanded to include a thread of techelet in our tzitzit. Techelet was the color of royalty. The priestly robes in the Temple were the color techelet. Techelet is a vibrant, deep blue within the purple spectrum. It’s a unique color that looks a different color at night than it does in the day. The prophet Ezra describes the color techelet as being derived from a snail known as the chilazon. But this snail has disappeared for the past 1,500 years, so there has been no techelet in our tzitzit for that long. The flag of the modern state of Israel, designed from our tallit, is meant to be the color techelet. The same Hebrew letters in “techelet” spell “touchless,” the famous Yiddish word for something genuine, the real thing.
The Talmud prohibits the wearing of the thread of techelet until we find the original source of the color. However, some Chassidic sects have revived the practice, using a different blue. In 2015, the Israel Antiquities Commission announced that they had discovered the original chilazon snail, a significant find that holds great historical and religious significance. This discovery paves the way for us to reconnect with our heritage and feel proud of our religious practices, as we may soon be wearing techelet in our tzitzit and be like royalty again.
The Hof HaTchelet development was deliberately named for the biblical color of royalty, symbolizing our commitment to creating a community of distinction and excellence. This new urban community will be one of Israel’s premier addresses, a testament to our vision and dedication.
The architect of the development plan, Danny Kaiser, brings a wealth of experience to the project. Having previously served as a City Engineer for Tel Aviv, he has a deep understanding of urban development and a proven track record of successful projects. The exact boundaries of the 500-acre Hof HaTchelet development are:
Strategically located, the northern boundary of the Hof HaTchelet development is the Herzliya Marina, and the southern boundary is North Tel Aviv. The real estate stretches six kilometers along the central coastline and extends eastwards until the Coastal Road, promising a prime location for urban living.
The Hof HaTchelet development has been consciously planned to preserve the integrity of the coastline and enhance the quality of life. The new community will consist of buildings no taller than 8 stories in the section closer to the coast but may be up to 30 stories in the section bordering Coastal Road. The hotels will be in the section closer to the sea, while the office buildings will be situated in the section by the Coastal Road. There will be schools, libraries, children’s daycare centers, clinics, synagogues, elder centers, and all local government and municipal buildings will be on-site and easily accessible to all residents and workers in the new community. There will be public parks and open public squares everywhere. There will be bike paths and pedestrian walkways. The light rail Green Line will run down the center of the neighborhood’s Main Street, connecting commuters directly to Tel Aviv all the way to Ibn Gvirol Street.
The value of most undeveloped land in Israel has increased over the last twenty years as Israel’s economy has boomed. Land in Hof HaTchelet has been rising in price for many years in this economic environment. It is a highly desirable real estate, and intelligent investors always knew the value would skyrocket once it developed. At each stage of the twenty-year permit process, the price of each acre went up.
The project has had to overcome many obstacles and objections by various parties and interest groups. The biggest objection that had to be overcome was the low housing density at the proposed Hof HaTchelet development. The density of most urban developments in Israel is usually at least seven housing units per 1,000 square feet. Hof HaTchelet will have a density of only six housing units per 1,000 square feet.
Another objection to the development at Hof HaTchelet was that it was situated too near a similar adjacent development project built on the former airport at Sde Dov. Some have said that the Sde Dov makes the development of Hof HaTchelet “irrelevant”. However, through careful planning and negotiation, we have addressed these concerns and demonstrated the unique value of the Hof HaTchelet development. At the current time, it appears that this objection and all the others have been overcome and Hof HaTchelet will now proceed as planned.
One of the main reasons it has taken so long to approve the development of Hof HaTchelet is that many separate entities currently own the land – several thousand stakeholders. Some owners are individuals or partnerships of two or more individuals, some owners are corporations, the local municipality owns some of the land, and the government of Israel owns some. Some of this land was purchased during the British Mandate era and was later steadily bought up with concurrent increases in value until today. There is little doubt that prices will further increase now that Hof Hatchelet will happen.
Our law firm has clients who own land at Hof HaTchelet. Buying and selling land in Israel is very simple if you do it right!
If you own land in Hof Hatchelet and want to maximize the return on your land at this opportune time in history, please contact our law firm for a free consultation.
