The Žižkov freight station is one of the largest brownfields and one of the key development zones in Prague, with an area of around 30 hectares. Penta Real Estate has now bought land in the northern part of the railway station from Czech Railways for CZK 731 million (€30 million), reports E15.cz.
The sale of land follows the change in the city master plan from April this year, and the agreement with the city and the district of Prague 3 on the amount of contributions by the developer. The total volume of financial and non-financial performance exceeds CZK 100 million (€4.1 million), including, among other things, the construction of a park with a water surface and several sports fields, a medical facility and the reconstruction or expansion of local schools.
Penta Real Estate acquired the rights to build and purchase land in this location in 2019. It plans to build 530 apartments on 40,000 sqm, while half of the area will be reserved for green areas. Construction should begin at the turn of the year, with completion in 2029.
"There is a broad social consensus about the transformation of the entire freight station into a new residential area for approximately 20,000 people. We will contribute with an architectural concept in cooperation with the Dutch studio Benthem Crouwel Architects, emphasising well-designed public spaces with a high proportion of greenery and art installations," said David Musil, CEO at Penta Real Estate in the Czech Republic.
