The Pearl Hotel, that decrepit building that occupies one of Jerusalem’s most exclusive sites just outside of Jaffa Gate, is finally going to be reconstructed and reopened, after lying in a state of disrepair for 15 years,¬†Mynet Jerusalem¬†reports.
According to the report, a deal has finally been struck between the municipality, the courts, and the property’s owners. Under the arrangement, the existing building will be demolished, and a new hotel will be built, with a total of eight underground floors.
As part of the arrangement, an additional 16 residential units will be approved, facing Koresh Street, as compensation to the owners for not being able to raise the hotel above the height of the walls, the report said. The hotel will include about 170 rooms in all.
The hotel was built in the late 1990s as the Dan Pearl hotel, but encountered various problems and was passed through a number of owners before it finally closed in 2003.