The dilapidated area of the Municipal Courtyard will start to be renovated this year

Prague - The dilapidated area of the Municipal Yard near Prague's Haštalské Square in the Old Town will begin renovations within a few days. The investor Around Inside has obtained a building permit for a luxury residential project with 12 residences. They intend to start preparatory construction work later this year, the Czech News Agency reported today. The renovation is expected to be completed by the end of 2015.
    The developer plans to build 12 luxury residences in the area bordered by Kozí, U Milosrdných, and U Obecního dvora streets, along with a private area with greenery spanning 1,300 square meters and an underground parking lot for residents. They have already secured their first interested buyer. "Even before obtaining the building permit, we sold two apartments and are registering serious interest in several others. We expect that with the start of construction, interest in the project will increase further," stated company manager Catherine Nardin.
    The sizes of the residences start at 131 square meters, with the largest being 412 square meters. The price per square meter starts at 140,000 crowns excluding VAT. The project was designed by Spanish architect Ricardo Bofill.
    The Municipal Yard was built in the 16th century, with additional wings constructed later. It consists of a complex of three Baroque and one Neoclassical building. The location reportedly became an inspiration for the novels about the Quick Arrows by Jaroslav Foglar. Czech painter Josef Mánes and Austrian mathematician and physicist Christian Doppler spent part of their lives in the Municipal Yard. The current appearance of the area dates back to the mid-19th century.
    The area belonged to the Prague magistrate until 2008 and then gradually changed hands several times. The dilapidated monument came into the possession of the current investor in mid-2011.
    The Municipal Yard once served as the base for firefighters and municipal services. In the last century, part of the area was transferred to the heating plants, which the city regained in a court dispute. In August 2002, the buildings were hit by a flood. Since then, they have been essentially empty.