The company "Karem Real Estate Development and Urban Renewal" has begun the demolition of a residential building on Louis Marshall Street in Tel Aviv, which was damaged by an Iranian missile last March. The building, which was slated for demolition as part of a renewal plan, received demolition approval within 48 hours after the incident, thanks to swift cooperation between the Tel Aviv municipality and the property tax office. The expedited process saved the state approximately 400,000 shekels, including financing alternative housing for the residents, with the company itself providing them with two months of rent. In place of the old building, which included 11 apartments, a new 8-story building with 20 housing units will be constructed, featuring garden apartments and penthouses. The project is located near Yarkon Park and the sea, and is expected to be completed in about three years. The company's CEO, Rani Weinberg, emphasized the importance of collaboration between authorities and developers during emergencies, highlighting the need for protected spaces in the new construction.