Apparently it's a town/city built specifically for Charedi people, taking into consideration their religious needs. It's also going to have a diverse crowd: Sephardim, Ashkenazim, Chassidim, Yeshivish, Chabad, Mizrachi etc.
It's supposedly going to be inexpensive, 500,000 NIS for a 3-bedroom with an "option" for a fourth, eligible people (not sure who those are) can get 100,000 NIS off.