The Iceland-Mexico Urban Renewal project redefines city living by transforming outdated buildings into a modern, multi-use hub.
Building on this redefined vision, the project replaces five existing residential buildings, ranging up to five stories, with a modern complex featuring three 42-story towers and two 10-story residential buildings, all above an underground parking facility. The plan significantly increases the housing supply from 123 existing units to 667 new ones—more than five times the current amount—offering substantial benefits beyond standard urban renewal benchmarks. Spanning approximately 12.7 dunams, the project is strategically located near the Red Line of the light rail and in proximity to the future Purple Line. As part of the renewal, the plan allocates around 4,500 sqm for public buildings, alongside a dynamic commercial frontage of approximately 2,500 sqm along the light rail route and an additional 1,800 sqm for office spaces.
The development also introduces a 4-dunam public open space, designed to enhance pedestrian accessibility, including a walkway connecting Iceland and Mexico Streets. This holistic approach to urban regeneration ensures a vibrant, well-connected, and community-oriented living environment.