Ownership of the land was divided between the state, the Carmelite Order, and residents of the Arab village of Al Tira (which is today the city of Tirat Carmel).
Since the establishment of the State of Israel, the Merkaz HaCarmel neighborhood has become a prestigious residential area, with shopping centers and local businesses including many European-style cafes, and several hotels and museums.
The city of Haifa, led by Abba Hushi, purchased the former home of Frederick Kisch (who lived there 1934–1939) on HaNassi Avenue and established the Tikotin Museum of Japanese Art there in 1959.
The promenade was donated by Paul and May Goldschmidt, Haifa residents originally from South Africa, in memory of their son Louis (Ariel) who was killed in a car accident.
(The Goldschmidt family later contributed to the renovation of Haifa Zoo including the provision of electric cars to provide accessibility for the disabled.)