TEL AVIV (PR WEB).- Jewish-American architect, Richard Meier arrived today for a visit to Israel in order to promote "Meier on Rothschild," a residential project that he designed. The new building is at the junction of Rothschild Boulevard and Allenby Street in Tel Aviv. At a press conference Meier said that the tower, rising to a height of 32 stories, is a symbol of the changes that Tel Aviv is going through.

When asked what he thought about the fact that young people could not afford to buy an apartment in the project, Meier said, “The problem of housing for young people is typical of all big cities and isn't unique to Tel Aviv. We build affordable housing in my home town of Newark in New Jersey that is subsidized by the government. In Israel, affordable housing financed by private enterprise is not possible without political and governmental intervention."

So far, 40% of the Tel Aviv luxury apartments in the 32 story Rothschild Boulevard building have been sold. Now the projects promoters, The Berggruen Group, is waiting for approval from the Regional Planning Commission for the construction of an additional five floors that will bring the project to 37 stories. In approximately two weeks, A. Dori Co. will begin the construction of the project’s underground parking facility, which is expected to be completed by 2013.

Meier is designing a number of projects around the world including a combination office, residential and hotel complex in Mexico. But Meier says that his dream is to design a project in Jerusalem. Meier is recognized worldwide because of the projects he has designed, including the renowned Getty Museum in Los Angeles.

You can see the new building's brochure and a 3D module of the tower in the Tel Aviv apartments page on the official Meier on Rothchild website.