The competition for the development of Karolina was won by Multi Development

The developer competition for the redevelopment of the former Karolina coke plant in the center of Ostrava was won, according to today's decision by the city councilors, by Multi Development. In its project, it plans for the main feature to be the central square in front of the historic Dvojhalí buildings, which are the last structures remaining in Karolina. The winning company is expected to invest approximately 12 billion crowns into Karolina. The project by Multi Development was selected by the city councilors as the best out of five competing development projects. Out of 51 present, 28 councilors voted for it. Multi Development, headquartered in the Netherlands, is one of the largest European development companies.
In second place were Orco Property Group and TriGránit Czech Republic. The center of their proposal features a boulevard that is roughly the same width as Wenceslas Square and includes water features and artworks. This project, on the other hand, garnered the greatest support from citizens, who selected it in a public competition.
In third place were ECE Projektmanagement Praha and Passerinvest Group, which proposed a lookout tower as a prominent feature in Karolina. ING Real Estate Development placed fourth, and Sekyra Group came last.
The city will now offer the winning company the option to purchase the land in Karolina. If no agreement is reached with the company within three months, the city will approach the second-placed company, with negotiations lasting up to another three months. They will then consider contacting the third-place company. If no contracts can be concluded with any of the top three companies, the councilors will decide on the next steps.
The city intends to sell the land in Karolina at a fixed price of around 1300 crowns per square meter. The entire area covers approximately 36 hectares, but the buildable area constitutes about 30 hectares. From the sale of the land, the city could gain around 200 million crowns. Karolina is the second-largest undeveloped area in the center of the city in the Czech Republic.
However, the developer competition faced significant criticism. Karolina has long been the subject of a dispute between the city and a group of Polish architects who won an international architectural competition years ago. However, the city ultimately decided not to follow their proposal and to announce a developer competition instead. The Czech Chamber of Architects deemed this competition irregular.

Information about the competition >