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The brilliant summer sun and passing refreshing mountain breeze were a fitting background for a day of celebration on July 3 rd at the historic Schneller Compound. The unprecedented luxury development, Jerusalem Estates, had secured its final permits to proceed with its ambitious plans to develop the city’s most luxurious residential housing for charedi Jews. On hand was an impressive group of developers, contractors, architects, financiers, bankers, and other dignitaries who joined to witness the historic milestone. “Securing the final construction permits is an all-important step in the fulfillment of a dream come true,” said Akiva Zuravin of ISA, which is developing the project.

The event began with the dignitaries and other participants leaning against the scaffolding overlooking the construction site. They toured the site and saw the completed basement floors and the newly poured cement that covers the completely finished parking level and the exclusive tunnel that will ferry the dwellers directly to the main thoroughfares of Malchei Yisrael and Yermiyahu streets. So impressive was the work to date and the news that more than 60% of the first phase (approximate $70 million value) was already sold that there was talk of accelerating a subsequent phase as part of a development that will ultimately include 13 buildings. Senior official of Bank Hapoalim, the major financers of the project, witnessed the historic ceremony expressing admiration for the professionalism of the developers and contractors and most timely completion of all mileposts. They included Bank Hapoalim officials Shimon Edri, Director of Client Relations, Jerusalem Business Sector; Yigal Bindes, Director of the Jerusalem Business Sector; Dalit Raviv, and Director of Commercial Banking. Attorney Chagai Shmuel from the Offices of Yigal Arnon, who has been associated with the project from the outset, was also part of the distinguished group.

As the dignitaries watched, there was a surprise presentation to Ephraim Kahane, the general manager of the construction effort. It was presented by Yechiel Turgeman, the chief supervisor of the Ehud Tayar Co. which is supervising the construction. The award recognized the high standards of construction, professionalism of the development team and especially the meeting of all deadlines. Perhaps the most emotional moment came at the conclusion of the ceremony when the celebrated architect Yehuda Feigin presented the Building Permits to Roi Gila, the contractor. Mr. Feigin, the chief architect of Jerusalem Estates is known for his design of some of Israel’s most luxurious properties including the Jerusalem Waldorf Astoria. With the permits in hand, the developers anticipate a rather expedited timetable of construction of the floors above the completed sub-levels including an expanded Phase I completion which will surpass the anticipated original 130 luxury units (of 440 that will eventually be built).

Mr. Feigin proudly showed off his architectural plans. He noted: “The authentic Jerusalem courtyards from the early Jewish settlements outside of the walls of Jerusalem is what inspired my design for Jerusalem Estates. A shared courtyard, full of magic, provides for spectacular beauty as the foyer that leads pedestrians to the surrounding homes.

Mr. Zuravin of ISA proceeded to affix a mezuzah to the new VIP office which willoffer concierge- like services to buyers. The impressive ceremony ended with a tefilah “Boreh olam bekinyan, hashlem zeh habinyan!”

As the assembled left, they took a long look at the amazing topography of the project. Residents will have a towering view of the beautiful Yerushalayim landscape with its panoramic snapshot of the adjacent celebrated neighborhoods. The huge photographs that were on the walls of the construction office showed the magnificent project with its completed buildings and luxury lobbies that lead to the private gardens. Jerusalem Estates will be the city’s first gated community.

All in all, it was a day to remember for the who’s who group of dignitaries who had come to celebrate the final phase of approvals before Jerusalem Estates rises in its full splendor, melding the regal past of the city with its promise of an amazing future. For more information about Jerusalem Estates, please contact : Sales Office, 16 King David St. Jerusalem 94101, Tel. 972-2-502-5502 | USA 718-564- 6656 . Fax. 972- 2-532- 3532 , www.jerusalemestates.com.

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