Aviv Urban Renewal
Aviv Urban Renewal company engaged in initiating evacuation-construction (gentrification) projects, improving the residents' quality of life with spacious new apartments in a brand new building. Residents enjoy a completely new apartment, including a protected zone, sun balcony, elevator, and parking space. Their property value increases dramatically, and they get to stay and live in their beloved and familiar neighborhood.
Aviv's knowledge, experience, quality construction, and financial fortitude, accumulated over more than 50 years of activity, serve the new project and accompany the residents throughout the entire time. Each and every contractual commitment made by the company will be executed on schedule and to the letter.
What is TAMA 38/2? — Evacuation-Construction
This National Outline Plan (TAMA) was formulated by the state in order to allow residents in shared buildings to strengthen their homes against earthquakes and improve the structure's level of protection. In order to enable apartment owners to meet the high renovation and reinforcement costs, the State formulated TAMA 38, which entitles residents to additional building rights and tax benefits.
In 2010, amendment number 2 to TAMA 38 was approved (TAMA 38/2), allowing for older buildings that meet the requirements of the original plan to be demolished and for new buildings to be built in their place. Construction projects under TAMA 38/2 are usually carried out by the same developer who comes in contact with the tenants. The developer is responsible for building the new structure and handing over new apartments to the old residents. In return, the developer assumes ownership of the remaining apartments in the new building.
TAMA 38/2 — Our Proposal
With TAMA 38/2 projects, tenants get a brand new apartment in a building that includes an elevator and parking spaces, constructed to the highest modern standards and according to the most stringent engineering requirements to protect against earthquakes and missile attacks. Additionally, residents are entitled to alternative accommodation during the evacuation period and benefit from a significant increase in the value of their property, at no cost on their part.
Alternative accommodation during the construction period
Rent for alternative accommodation during the evacuation period.
Entitlement for reimbursement of moving costs — transporting the apartment's contents to the alternative accommodation and back to the new apartment when the project is completed.
Apartment owners come in contact with one liaising body
A stylish and luxurious building designed by a first-rate architect
Legal advice from the day of sale and all the way to condominium registration
Personalized service, from the transaction's first steps until the new apartment is delivered
Modern, high-end technical specifications, identical to those offered by our company in new apartments
All under one roof — with us; the developer is also the contractor.
A new apartment in a brand new building
A new apartment
Protected space in every apartment
A new building with expansive service areas
Parking space registered with the Land Registry Office
Lush environmental development
In the new building, each tenant will live one floor higher than their original apartment was on.
Tenants enjoy an improved quality of life, without having to bear any of the costs
Fees: We will cover all fees for the architect, the attorney, and a supervisor appointed by the tenants, according to contracts signed with them in coordination with us and following a predetermined budget.
Tax: We cover the following costs: Building fees, betterment levies (subject to any exemption/benefit, VAT for building services, and purchase tax). On the matter of betterment levies, it is made clear that each of the tenants will take advantage of any exemption/benefit they may be entitled to in accordance with real estate taxation law.
Insurance: We will handle the insurance for all construction work and third party risks.
Securities for guaranteeing receipt of new apartments and payment of rent: Aviv Co. will provide each apartment owner with a full guarantee by a major Israeli bank in order to ensure receipt of the new apartments. Guarantees will be according to sales law, as is common practice with this type of project. Additionally, Aviv Co. will provide guarantees to ensure payment of rent to apartment owners.
Stages of the project — until the new key is on your hands
- Formulating an agreement with the tenants.
- Architectural design and presentation of initial blueprints and technical specifications.
- Signing a communication agreement between the developer and the tenants.
- Preparing blueprints and submitting them to authorities to obtain building permits.
- Obtaining permits.
- Executing the project.
- Completing construction works, obtaining the approval of licensing and regulation authorities.
- Handing over the new apartments to the tenants.