Penta is planning apartments worth two billion at the Cargo Station

Prague - Penta Real Estate is preparing a residential project with at least 500 apartments for two billion CZK on part of the land of the former freight station in Žižkov, Prague. In mid-February, it will announce an international architectural-urban planning competition for the conceptual design of the entire area. This was stated today by Penta Investments spokesperson Ivo Mravinac.

Penta is preparing the apartment project in consortium with Czech Railways and SUDOP under the name Railreal. Construction is expected to begin in 2021. The entire area of the freight station is currently subject to a construction ban. The lifting of the ban is expected with the change in the zoning plan, which is being prepared for the extensive area of the former Žižkov station.

"It is an exceptional brownfield where thousands of apartments could emerge over the next ten years. The area is now controlled by three major developers: Penta, Central Group, and Sekyra Group. Healthy competition, while mutual cooperation, will lead to the creation of a new urban district with truly quality architecture, greenery, and civic amenities," said David Musil, director of Penta RE for residential development in the Czech Republic.

The assignment for the architectural competition is based on both the current zoning plan and a progressive study by the Institute for Planning and Development of the City of Prague. The competition will be in two rounds, with the five best proposals from the first round receiving a financial incentive of 10,000 euros for further development. This should also ensure interest from foreign studios. The jury will consist of ten members, five representatives of the owner, and the other half will be independent architects and representatives of the city.

For the realization of the project, it is important for Czech Railways to settle with the owners of several structures located on its land. In one case, a decision has already been made for the demolition of the structure. Especially for the unauthorized use of the land, the respective company owes a significant amount to Czech Railways.