Crestyl will build 210 apartments in the former Tesla complex in Vršovice

Prague - The developer company Crestyl will build four buildings with 210 apartments in the former Tesla site in Vršovice. The group's managing director, Radim Sayed, announced today that they received a building permit for the project called 4Blok this week. The apartment buildings are to be completed within two years.
    The buildings will rise on the border of Vršovice and Vinohrady, right by the Koh-I-noor bus stop. In addition to apartments ranging from 1+kk to 5+kk, the project also includes underground parking spaces, a communal garden in a closed courtyard with a birch grove and a playground for children, covered bike stands, and a room for washing dogs and bikes. The developer intends to start construction in a few weeks.
    The project is authored by the architectural office David Chmelař architects, which placed great emphasis on Scandinavian design. The apartments will be of above-standard quality, and hence the developer is mainly targeting wealthier clients. "Interest in this project is nevertheless significant. Even before obtaining the construction permit, we had sold 30 percent of the apartments," stated Sayed.
    The market for new apartments in Prague has seen significant growth recently. According to joint statistics from the companies Ekospol, Trigema, and Skanska Reality, people purchased 5,950 new apartments in Prague last year, which was an increase of 18.6 percent year-on-year. The growth has continued this year, with a record 1,850 new apartments sold in the capital in the first quarter, which is a third (37 percent) more than last year. Developers are increasingly introducing luxury projects as well.
    The Crestyl group, which has been active in the Czech real estate market since 1996, is currently focused on the development of fourteen locations throughout the Czech Republic, with a total investment value exceeding one billion euros. In addition to residential projects, it is also engaged in commercial construction.