- Title: Prague to resurrect forgotten land in the shadow of its spires
- Date: 19th September 2019
- Summary: PRAGUE, CZECH REPUBLIC (SEPTEMBER 4, 2019) (REUTERS) BUILDING SITE AT RADLICKA STREET IN PRAGUE WORKER ON CONSTRUCTION SITE BUILDING SITE (SOUNDBITE) (Czech) PRAGUE INSTITUTE OF PLANNING AND DEVELOPMENT SPOKESMAN, MAREK VACHA, SAYING: "The principle of the metropolitan plan and our thinking about the city is that we want to utilise the potential of the city - to use the brownfield sites for development, so that when you are going out to the country, you don't travel like one and a half hours (through urban areas) and that it is clear where Prague has its borders and after this border nothing more should be developed." PRAHA-BUBNY TRAIN STATION EXTERIOR OF STATION BUILDING STORAGE BUILDINGS AROUND STATION GRAFFITI ON WALL VARIOUS OF TRAIN PASSING PRAGUE, CZECH REPUBLIC (SEPTEMBER 18, 2019) (REUTERS) VARIOUS OF PEOPLE WALKING IN SQUARE NEXT TO OLD TOWN HALL PEOPLE WALKING IN WENCESLAS SQUARE TOURISTS TAKING SELFIE IN SQUARE PRAGUE, CZECH REPUBLIC (SEPTEMBER 4, 2019) (REUTERS) (SOUNDBITE) (Czech) PRAGUE INSTITUTE OF PLANNING AND DEVELOPMENT SPOKESMAN, MAREK VACHA, SAYING: "There are many places (brownfield sites) in the very centre and we need new residential districts to be built there. Not only because people are now hardly able to find flats to buy here, but so that the town becomes more compact, ecological and economical." 'FLORENTINUM' BUSINESS COMPLEX COURTYARD BUILT BY DEVELOPER PENTA INVESTMENTS VARIOUS OF PEOPLE IN THE YARD MAP OF 'FLORENTINUM' COMPLEX PENTA INVESTMENTS MANAGING DIRECTOR, PETR PALICKA, OPENING WINDOW TO LOOK OUT OVER MASARYK TRAIN STATION AND SAYING (Czech): "Now we are at the Florentinum place - the former Rude Pravo estate, and just in front is the Masaryk train station with the construction pit." MASARYK TRAIN STATION WITH CONSTRUCTION PIT RAILWAY STATION SIGN VARIOUS OF TRAIN STATION (SOUNDBITE) (Czech) PENTA INVESTMENTS MANAGING DIRECTOR, PETR PALICKA, SAYING: "The estates we are building here will stay for many years and they are radically changing the face of individual parts of the town. We are doing it in a responsible way and we would also like other developers to do the same, following the principle to create something good and improve the face of the city." VARIOUS OF TRAFFIC PASSING BY DEVELOPMENT BY PENTA BUILT ON SITE OF OLD 'WALTROVKA' FACTORY MAKING AIRCRAFT ENGINES OFFICE BUILDINGS PRAGUE, CZECH REPUBLIC (SEPTEMBER 18, 2019) (REUTERS) WOMAN WALKING PAST BOARDS ADVERTISING DEVELOPMENT ON SITE OF FORMER MILK FACTORY CONSTRUCTION WORKERS ON SITE PEOPLE WALKING PAST BOARDS ADVERTISING DEVELOPMENT
- Embargoed: 3rd October 2019 15:01
- Keywords: Prague Czech Republic property developers brownfield sites new housing and commercial developments
- Location: PRAGUE, CZECH REPUBLIC
- City: PRAGUE, CZECH REPUBLIC
- Country: Czech Republic
- Topics: Economic Events
- Reuters ID: LVA001AXBQFJT
- Aspect Ratio: 16:9
- Story Text: Known as the city of a hundred spires, Prague's gothic cathedrals, cobblestone streets and hilltop castle towering over the river create a picture-perfect tourist dream.
Away from the picture postcard views, derelict factories and shuttered breweries - largely abandoned since the Velvet Revolution unseated Communism 30 years ago - are seen by city officials and developers see as an untapped treasure.
Now Prague authorities are aiming to give these areas, which occupy large swathes of the city centre, a new lease of life in an attempt to ease an acute housing shortage, create jobs and attract investment in projects.
Marek Vacha, from the Prague Institute of Planning and Development, said the goal was to keep development within the borders of the city and make it more compact and environmentally-friendly.
Proposed projects include converting an abandoned milk factory into shops and apartments, and turning part of a derelict train station into office and residential space.
Among the companies working on developments is Penta Investments, a leading local developer and investment group with 10 billion euros in assets.
It is currently working on developments on the site of a 17th century brewery and the disused Masaryk train station.
Penta's managing director Petr Palicka said that the company's new developments were "radically changing" the face of the Czech capital, but that they were trying to develop in a responsible way and hoped other companies would do the same.
However it is not easy to conduct extensive construction work in a historic, UNESCO-protected city centre.
Navigating a lengthy permitting process, complicated by the fact each of Prague's 57 districts wield their own power, has slowed progress for local investors and largely blocked foreign investors so far.
(Production: Jiri Skacel, David Cerny, Lewis Macdonald) - Copyright Holder: REUTERS
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