The transformation of the so-called Pentagon in Palmovka district in Prague 8 has moved closer to reality. The Prague city deputies have approved a change to the city master plan this week, enabling the coordinated urban development of this area.
The detailed spatial study of Palmovka involves an increase in the potential capacity of the local urban land by approximately 120,000 sqm of gross floor area. On a total of 8 hectares, the Prague Development Company (PDS) is preparing 2,000 apartments and up to 50,000 sqm of space for offices, retail (restaurants, cafes, smaller shops and services) and non-commercial purposes (for elementary school, cultural or community centres, library and children's leisure activities). The implementation may be executed in stages throughout 5-15 years, until 2035 or 2038. Appropriate territorial development will enable a friendly connection between Rohanský Island, Invalidovna and Palmovka districts.
"The change in the master plan was already initiated in 2019 during the preparatory work for the creation of the PDS, through the Institute of Planning and Development of Prague. The approved change to the zoning plan will enable the development potential of these lands under the control of the capital city to be unlocked. The agreed regulation and the necessary increase in building coefficients also resulted in a significant market appreciation of urban land," says Petr Urbánek, Director of the Prague Development Company.
The Centrum Nová Palmovka building revitalisation will be a key shift for the site. After its reconstruction and completion, it will become the new seat of the European Union Agency for the Space Program (EUSPA). City of Prague, which issued a tender for the general contractor in the form of Design & Build. The approved change in the spatial plan is, among other things, the necessary basis for the further successful preparation of the new seat of the EUSPA office.
Petr Hlaváček, Deputy Mayor of Prague for Strategic and Territorial Development says: "From the capital city point of view, this is a strategic area with consolidated ownership and potential. We managed to secure the location of the EUSPA headquarters there, which will be one of the world's centres of scientific and technological development, as well as a place for new job opportunities. The approval of the change will allow us to complete the property settlement with the Transport Company, and I assume that in the autumn it will be possible to start the preparation of the first projects based on the spatial study and the new form of the master plan through the Prague Development Company.“
