The rumors that have been rumbling amongst the choir over the past few years are true; Starwood Hotels will begin construction on W Hotel’s first Israel location in the spring of 2015.The luxury complex will consist of both a hotel and residences, a common strategy amongst international developers over the past few years in Tel Aviv. The W will join both the Ritz-Carlton in Herzliya and the Kempinski in Central Tel Aviv, both of which will offer both a 5-star hotel and luxury residences offering buyers a unique living experience.
The project will be located in lot that includes a 4-story building dating from 1879, originally a Colonial era hospital, that will be preserved and restored to its original grandeur. Alongside the historic hospital Starwood will build a 6-story hotel and residential complex, with the entire project slated to contain approximately 20,000 square meters of space: 125 hotel rooms, 38 residential apartments, and commercial space. The renown minimalist British architect John Pawson will design the hotel in collaboration with Israeli architect Rami Gil, aiming for an overall modern aesthetic that merges with the charm of the Old City.
Apartments in the new W complex will be built to a unique standard, seen only in Tel Aviv’s finest residential projects. Apartments will range in size from 92 square meters (990 square feet), beginning at 6.4 million NIS, to the 544 square meter (5,885 square feet) penthouse unit, with an estimated asking price of 58 million NIS. Luxury property has been on the rise in Old Jaffa over the past few years, and the addition of the W will only add to the neighborhood’s continued gentrification. Demand for top-end property in Tel Aviv shows no signs of slowing, contributing to Jaffa’s gradual rise to one of the city’s most in-demand neighborhoods.