Beit Shemesh is advancing two projects that will entail construction of projects with apartments for long-term rentals. A total of 250 apartments will be built in two neighborhoods within “old” Beit Shemesh, with apartments to be rented out for 15 years before they can be sold. Construction firms that will build the apartments will be given tax breaks for developing the project.
Under the plan, a total of 176 apartments will be available for the long-term rentals, with 25% of them offered at a controlled price, geared to the needs of financially challenged families. The rest of the apartments will be offered at market rates. A third project, which will entail construction of a project consisting of a 20-story apartment house, is under consideration, financial daily Calcalist reported.
The newspaper quoted Beit Shemesh Mayor Mrs. Aliza Bloch as saying that the projects “will influence the demography of the city. Many young people are unable to afford to live in the city, and housing is one of the main reasons. I want young people to know that Beit Shemesh is a city where they can build their futures.”