The Reading electric station is one of the iconic buildings in Israel. Many a young man has proposed at sunset against the backdrop of a colorful sky reflecting off the waters of the Mediterranean Sea, just north of the pedestrian Tel Aviv Port.
Always searching for new profits to fill its coffers, the Israeli government’s real estate planning board has decided to sell off this prized 25 acre piece of land for residential development. The estimated price is said to be 4,000,000,000 NIS, making it the most expensive real estate in Israel.
Built in 1938, the Reading Power Station supplied one third of Israel’s electricity during the British Mandate period. It was named after the Marquess of Reading, Rufus Daniel Isaacs, who was a British Jew and the founding chairman of the Israel Electric Corporation.
The plan is to build a neighborhood with 2,400 apartments in addition to office and leisure space. The good news is that the famous chimney, the subject of many beautiful pictures, will be preserved, while the power station itself will be torn down. Although it provided electricity to parts of Northern Tel Aviv, the station is not a major power source in the country and alternate plans to replace it are being worked out.
No worries as between the beautiful Namal Tel Aviv and modern cityscape of a new project with the famous chimney in the middle, young men will be able to still propose marriage to their soulmates.
Stay tuned for bidding on this landmark project!