Pardubice may sell the former Masaryk barracks to more investors

Pardubice - The area of the former Masaryk barracks in Pardubice will most likely be sold off to multiple interested parties. The idea of having a single buyer has proven unrealistic due to the size of the area. The location is suitable for residential development. The mayor Jan Nadrchal (ANO) said this to journalists today. The barracks cover approximately ten hectares in total.

"Unfortunately, it turns out that although these are valuable plots, they are too large for a single developer; it is a large area. The notion that a developer would give us a large sum of money has proven to be incorrect," said the mayor.

Investors were not interested in investing in such a large area independently, as they would have their money tied up for a long time; it would take a decade to fully develop the space. They also have to account for the remediation of old military buildings, which adds further costs, Nadrchal said.

"At the same time, for a city the size of Pardubice and considering its distance from Prague, a developer is capable of bringing 200 apartments to market each year to sell them. If they were to build 500 to 600 apartments here at once, they would remain empty for several years," said the mayor.

The city sold the old area of the former Tesla, covering 2.5 hectares, to one interested party in 2018; the developer is completing residential construction there for an estimated 750 people. In the case of Masaryk barracks, it will likely involve more investors.

"The city will most likely have a new urban study developed and we will probably offer it in smaller parcels. Part of it could be retained by the city for parking reserves, and the city could also build municipal apartments because there is a shortage of apartments," said Nadrchal.

The city hall also has further plans for the area; a primary school for 540 children will be built there. This year, it plans to demolish eight buildings, which is estimated to cost around 110 million crowns. In the following years, the school building will then be constructed. The city wanted to obtain state subsidies for the school, which would cost hundreds of millions, but those are not available.

"We will probably have to take out a loan. That is one of the options. We must build it. This is probably the only situation where many council members can envision borrowing from a bank," said Nadrchal.

Masaryk barracks for the railway regiment were built between 1922 and 1927. They lost their honorary name in 1939, which was restored only in 1990. The barracks have been abandoned since 2011; since 2019, there has been a municipal overflow parking lot there. Most of the area belongs to the city, except for a smaller part near S. K. Neumann Street, which belongs to the state. The state is planning a new employment office there, with the start date repeatedly postponed.