News Article Czech Republic LinkCity Ostrava residential
by Property Forum | Residential

A new residential district with almost 240 flats will be built in Ostrava's most populous district Jih. The project in Středoškolská will also include parking spaces, a park, and sports facilities. The investor will be Linkcity Czech Republic, which will pay a minimum of CZK 29 million excluding VAT (€1.2 million) for the land. Gabriela Pokorná, a spokeswoman for the municipality, told reporters, according to the ČTK news agency.

"The site belongs to the so-called development sites, it is well accessible by transport, it offers the necessary civic amenities and together with the proposed concept of new construction it will offer the city's inhabitants a quality housing option. We are also keeping in mind affordable rental housing, where the investor will allocate 10 percent of the new apartments to be rented at 75 percent of the usual rent for ten years," said Mayor Jan Dohnal to ČTK.

According to a spokesperson for the municipality, the investor's intention is to build approximately 240 flats in three phases, with a layout mainly from one-bedroom to three-bedroom flats. The outdoor areas are designed on a spectrum from public to semi-public to private. The concept includes, for example, a park for active movement for all generations, a workout and a children's playground. Future residents can also look forward to a water element and a community garden for shared outdoor activities," the spokesperson added. The project also includes transport infrastructure for pedestrians, cyclists, and vehicular traffic, as well as the planting of green spaces. For example, green roofs of individual apartment buildings or grassed strips of parking spaces are envisaged.

"Currently, the city will enter into a future contract with Linkcity with a right of pre-emption and prohibition of alienation, which contains the individual conditions of the project, as well as penalty provisions. The first step is a review of the implementation of the project, which is to be completed within three months of the conclusion of the agreement," the spokesperson said. The first phase is expected to be completed no later than 25 months from the start of construction. The price for the land is yet to be determined by an expert's report.

Linkcity Czech Republic is the international development brand of the Bouygues group and operates in the Czech Republic as part of the VCES construction group.