Praha 3 approved agreements with developers regarding the Žižkov Freight Station

Prague – Prague 3 will conclude contracts with the development companies Penta Real Estate and Finep regarding the planned construction in the area of the former Žižkov Freight Station (NNŽ). The contracts include construction capacities, the number of parking spaces, and also compensation to the city from the companies amounting to approximately 267.3 million crowns. The agreements were approved today by the local council, and the city council will vote on the contract with Finep on Thursday. The main city will join the contract with Penta Real Estate later.

The agreements were created based on a methodology approved by the previous city hall management to determine the contributions from developers for building the public infrastructure necessary for their housing projects. According to Prague 3 councilor Pavel Dobeš (STAN), Penta Real Estate plans to build 530 apartments, ten non-residential units, and 700 parking spaces on part of the extensive site in two phases. The Finep project plans for 1200 apartments, a kindergarten, and 1110 parking spaces.

According to the councilor, Penta can already start construction of the first phase of the project according to the zoning plan, which will include 271 apartments. Construction is set to begin at the beginning of 2025 and finish two years later. For the second phase, the developer wants a change of the zoning plan, which is approved by the main city authorities. Therefore, the contract anticipates future approval from the city hall. According to the agreement, the developer will contribute 30 million crowns in cash to the municipalities, which will be allocated for the construction of an elementary school. Furthermore, the company will transfer land with an area of approximately 21,000 square meters valued at around 69.9 million crowns, predominantly designated for parks.

In the case of Finep, a change of the zoning plan is necessary outright; its proposal was part of the document approved today, and the city council is expected to vote on both its implementation and the contract itself on Thursday. The developer's contribution in this case amounts to approximately 167.4 million crowns, of which 72.5 million crowns will also be in cash allocated for the construction of a new elementary school, according to Dobeš. The remainder will consist of a kindergarten, which the company will build and transfer to the municipality, and land for new roads and a planned green promenade.

"It is important for us that the substantial financial resources we provide under this contract will be used to meet the needs of both current and future residents of the broader area. This fully reflects our approach and underlines our motto – to live where we love," stated Tomáš Hečko, spokesperson for Finep, regarding the approval of the agreement.

According to an urban study approved last year, up to 15,000 residents are expected to live in the new district in the NNŽ area in the future, with parks and several educational facilities, including an elementary school in the functionalist railway building. The city plans to hold an architectural competition for that, as well as for the design of the park to be created in the central part of the area, and other public spaces. A tram line will be built along the northern edge of the area by Malešická Street, and the new Jarovská Street will connect the district to the future section of the city ring road. The company Central Group is already constructing in the NNŽ area, planning to build a total of 4600 apartments across three projects.

The functionalist railway building itself is owned by Czech Railways, which previously established a joint venture, Žižkov Station Development, with the developer Sekyra Group, which has a right of first refusal on the railway building. The city is now considering whether to purchase part of the building or to establish a joint venture with Sekyra Group focused on the revitalization of the station and its transformation into a cultural and social center. According to a previous agreement, the functionalist railway station could host the headquarters of the National Film Archive, cultural and social spaces, or an elementary school. Sekyra Group also plans to build apartments and commercial spaces there.