Be'er Ya'akov's Urban Renewal Wave: 1,880 Apartments and the Rebirth of Herzl Street
Introduction
Urban renewal represents one of Israeli real estate's most complex and potentially rewarding sectors. In Be'er Ya'akov, the first major Pinui Binui (evacuation-construction) project has received approval.
Understanding Pinui Binui
Under this framework, old buildings are completely demolished and replaced with new, substantially larger structures. Residents are temporarily relocated before returning to new apartments in the rebuilt neighborhood.
The Herzl Street Project Details
In April 2025, the local committee approved the first phase of the Herzl Street urban renewal project. The project will deliver 1,880 new apartments, representing a massive increase in housing density.
Developer Perspective
Yaki Amsalem, CEO of the Almog Group, described it as "a complete upgrade of the neighborhood, transforming it from an old and neglected area to a new, high-quality, and safe neighborhood."
What Renewal Means for the Neighborhood
Modern Housing Stock: Replacing decades-old buildings with construction meeting current standards.
Increased Density: More units means more residents, supporting commercial viability.
Infrastructure Upgrades: New underground parking, utilities, and public spaces.
Safety Improvements: Modern construction includes mandatory safe rooms and earthquake-resistant engineering.
Implications for Existing Residents
New, larger apartments at no cost
Modern amenities including elevators, parking, and storage
Significant property value appreciation
Temporary relocation with developer-funded housing
Conclusion
The Herzl Street project marks Be'er Ya'akov's entry into one of Israeli real estate's most transformative sectors.