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עברית
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עברית
StatusDeposited with conditions, January 2026
  • TypePinui-binui
  • LocationTalpiot, Jerusalem
  • Shiluvim's roleGuidance and management on the apartment owners' side

'Banks Junction' is changing

In a place many have known for years as 'Banks Junction', a meaningful pinui-binui project is now being advanced, with Shiluvim accompanying the apartment owners' side.

Derech Hevron, Ein Gedi and Shalom Yehuda, Jerusalem

85
Existing apartments
~340
New apartments
10
Plots
12
Developer offers reviewed
7
Commercial units
Selected project developer
Kardan Real EstateKardan Real Estate
Architectural rendering of the Derech Hevron project - aerial view of the three towers and the commercial frontage

How the Derech Hevron project progressed

From the apartment owners' initial organization, through the developer tender and the selection of Kardan, to advancing the planning with the planning institutions.

  1. 2021

    Organizing the apartment owners and representation

    Establishing the representation and the apartment owners' voice.

  2. 2021

    Helping select the lawyer

    Selection and preparation ahead of the tender.

  3. Early 2022

    Building a detailed tender

    In partnership with the representation and the lawyers.

  4. March 2022

    Publishing the tender and receiving offers

    12 offers from leading developers were received for review.

  5. June 2022

    Analyzing offers and selecting the developer

    Kardan Real Estate was selected to advance the project.

  6. April-December 2023

    Accompanying negotiation and alignment

    Agreement abstract, residents' assembly, social survey, and required-majority signing.

  7. 2024-2026

    Planning accompaniment

    A complex of approximately 8 dunam, regional committee hearing in January 2026.

    Current stage

What the apartment owners achieved

The main considerations and protections set in the agreement with Kardan Real Estate, binding on the developer toward the apartment owners.

At least 35 sqm

Addition to the new apartment

Apartment owners will receive a new apartment at the size of the existing apartment, with a meaningful addition of at least 35 sqm, plus a sukkah balcony, a storage unit, and a standard parking space attached to the apartment in the land registry.

And that's only the starting point. Alongside the minimum addition, the agreement sets a mechanism that recognizes additional existing areas: enclosed balconies at 100%, open balconies at 50%, and storage units at 40%.

In practice, the total consideration for some apartments may end up significantly larger than 35 sqm, depending on the characteristics of the existing apartment.

Excess profitability

Apartment owners share in the success

If the project's profitability exceeds 18%, the apartment owners benefit from two protection mechanisms: increasing the addition from 35 sqm to 40 sqm at the time the master plan is filed, and an equal split of the excess profit above 18% at the time the apartments are handed over, per the mechanism set in the agreement.

Evacuation and construction period

Developer-funded

Rent, moving, dismantling, and a cash voucher for the new apartment, per the mechanism set in the agreement.

10 years

Maintenance fund

A dedicated fund covering management and maintenance fees for apartment owners returning to live in the new apartment, for 10 years. The fund is intended to ease concerns about higher upkeep costs in the new building, and to make the return to the new apartment feel safer and easier.

Throughout the process

Apartment owners' involvement

Planning documents approved by an inspector on behalf of the apartment owners, and professional accompaniment throughout the planning and execution stages.

Derech Hevron and Shalom Yehuda: the story behind the plan

A large-scale project that began with apartment-owner organization, continued through a competitive developer tender, and advanced to significant planning stages with the planning institutions.

The Derech Hevron and Shalom Yehuda project is a large-scale pinui-binui project in Jerusalem, which grew from a structured organization of the apartment owners with a clear goal: safeguarding their interests throughout.

The apartment owners weren't left on their own. Shiluvim accompanies them throughout: from the initial organization and forming the complex, through the developer tender, choosing the professionals and leading the negotiation, all the way to the ongoing navigation of the planning stage with the planning institutions.

  • 12 developer offers reviewed in the tender
  • Kardan Real Estate selected to advance the project
  • Raisman Deutsch & Co. selected to represent the apartment owners
  • Plan advanced to a Regional Committee hearing in January 2026

As the planning progressed the complex was expanded and additional plots were added, consolidating a complex of approximately 8 dunam.

Street-level rendering of the Derech Hevron project - commercial frontage, preserved building, and the light rail

Street view - commercial frontage, the preserved building, and the light rail along Derech Hevron.

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The professional team accompanying the apartment owners

On a complex pinui-binui project, apartment owners need more than an agreement. They need a professional team that understands law, appraisal, planning, inspection, and process management. Shiluvim integrates the work between the professionals and makes sure the information reaches the apartment owners clearly, methodically, and practically.

Shiluvim integrates the process

The lawyers, the appraiser, the inspector, and the planning teams each focus on their professional domain. Shiluvim's role is to connect the parties, maintain workflow continuity, surface information for the apartment owners, and ensure the process moves forward from understanding rather than pressure.

שאלות מובילות על הפרויקט

What stage is the project at today?

The plan was advanced to the deposited-with-conditions stage at the Regional Committee in January 2026. The current stage is completing the conditions set by the planning institutions, as a prerequisite for further advancement of the planning process.

What does deposited with conditions mean?

Deposited with conditions is a meaningful planning stage in which the committee approved the principles of the plan and is requesting completion of additional conditions before final approval. It's not a building permit and not evacuation, but it's an important step on the path to plan approval.

What was Shiluvim's role on the project?

Shiluvim guided the apartment owners through the initial organization, forming the representation, launching the developer tender, reviewing offers, filtering developers, selecting Kardan Real Estate, leading the negotiation, and advancing the planning with the planning institutions.

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