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Real Estate / Urban Renewal

Urban renewal has been gaining widespread momentum in Israel, due to the ever-increasing shortage of land for new construction. Urban renewal has multiple purposes: to revitalize the face of the city and attract a younger population, to reinforce and improve the housing conditions and safety of existing buildings and to add new buildings, while retaining open spaces.

There are many players in an urban renewal project – apartment owners, entrepreneurs, contractors, neighbors, the local authority, real estate agents, service-providers and more.  Every interaction between any of the players taking part in the process has a ripple effect on many different aspects of an urban renewal project, including on the apartment owners’ rights and on planning and licensing aspects, financing and tax aspects, among others.

 

In light of the complexity of urban renewal projects, the choice of legal representation during such a project is critical, since it requires expertise both in law and in all facets of the real-estate and construction sectors.

 

Barnea & Co. has extensive experience in advising and representing both entrepreneurs and apartment owners across the entire spectrum of real-estate transactions, including during urban renewal projects such as “Demolition and Construction” and National Outline Plan 38.

 

Barnea & Co. provides legal counsel to real-estate entrepreneurs throughout all stages of the project, including inter alia, assistance during the performance of planning analysis, negotiating with the apartment owners’ attorney and drawing up the engagement agreement with the apartment owners, conducting negotiations and providing counsel during the engagements with the performance contractor, suppliers and consultants. Also, providing ongoing legal advice during the engagement with the bank which will be providing financing for the project and ongoing guidance in all aspects of financing, handling the legal aspects of the sale of the entrepreneur’s apartments, providing ongoing legal advice during the process of delivering the new apartments to the apartment owners, and finally, registration of the condominium and registration of the apartment owners’ rights in the new apartments.

 

Barnea & Co. provides legal guidance to the apartment owners from the outset of the project and provides them with personal, professional and ongoing assistance, including conducting negotiations on their behalf with the entrepreneur, with the performance contractor, the supervisor, the appraiser, the architect and all other professionals needed for the success of the project and drawing up agreements between all parties involved in the project . Also  participating in meetings of the condominium representation and apartment owners’ meetings, obtaining the apartment owners’ signatures on various engagement agreements, and accompanying the apartment owners throughout the project until its completion, including ensuring that the entrepreneur has fulfilled all of its obligations.

 

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Real Estate / Urban Renewal

Urban renewal has been gaining widespread momentum in Israel, due to the ever-increasing shortage of land for new construction. Urban renewal has multiple purposes: to revitalize the face of the city and attract a younger population, to reinforce and improve the housing conditions and safety of existing buildings and to add new buildings, while retaining open spaces.

There are many players in an urban renewal project – apartment owners, entrepreneurs, contractors, neighbors, the local authority, real estate agents, service-providers and more.  Every interaction between any of the players taking part in the process has a ripple effect on many different aspects of an urban renewal project, including on the apartment owners’ rights and on planning and licensing aspects, financing and tax aspects, among others.

 

In light of the complexity of urban renewal projects, the choice of legal representation during such a project is critical, since it requires expertise both in law and in all facets of the real-estate and construction sectors.

 

Barnea & Co. has extensive experience in advising and representing both entrepreneurs and apartment owners across the entire spectrum of real-estate transactions, including during urban renewal projects such as “Demolition and Construction” and National Outline Plan 38.

 

Barnea & Co. provides legal counsel to real-estate entrepreneurs throughout all stages of the project, including inter alia, assistance during the performance of planning analysis, negotiating with the apartment owners’ attorney and drawing up the engagement agreement with the apartment owners, conducting negotiations and providing counsel during the engagements with the performance contractor, suppliers and consultants. Also, providing ongoing legal advice during the engagement with the bank which will be providing financing for the project and ongoing guidance in all aspects of financing, handling the legal aspects of the sale of the entrepreneur’s apartments, providing ongoing legal advice during the process of delivering the new apartments to the apartment owners, and finally, registration of the condominium and registration of the apartment owners’ rights in the new apartments.

 

Barnea & Co. provides legal guidance to the apartment owners from the outset of the project and provides them with personal, professional and ongoing assistance, including conducting negotiations on their behalf with the entrepreneur, with the performance contractor, the supervisor, the appraiser, the architect and all other professionals needed for the success of the project and drawing up agreements between all parties involved in the project . Also  participating in meetings of the condominium representation and apartment owners’ meetings, obtaining the apartment owners’ signatures on various engagement agreements, and accompanying the apartment owners throughout the project until its completion, including ensuring that the entrepreneur has fulfilled all of its obligations.

 

Back to Real Estate

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