The construction of a new district in the Zbrojovka Brno area will not begin until 2010

Brno - Construction in the area of the bankrupt Zbrojovka Brno will not begin until 2010. Preparations and subsequent construction will be prolonged by at least several months, partly due to the global financial crisis, Jiří Ochec from the J&T group, which co-owns the area of over 22 hectares, told ČTK. Next year, the company plans to finalize documentation, secure the necessary permits, and ensure financing for the project.
    According to previous information, J&T intends to invest between eight and eleven billion crowns in the redevelopment of lucrative areas near the center of Brno. According to Ochec, they have not deviated from their plans. "The architects are planning according to the original brief. The construction will just take longer than it would have without the crisis," he stated.
    The investor already has initial studies. According to them, a new district with apartments, offices, and shops should be built on the land along the Svitava River. Some buildings will be demolished by construction companies, while others should be preserved.
    J&T purchased the area from the bankruptcy estate of Zbrojovka Brno last January for a record 707 million crowns, along with the development company CPI Group, each holding a 50% share. The new owners are currently renting out a significant portion of the properties. This is likely also why they are not rushing with construction, as they have rental income.
    J&T also owns other plots of land in Brno. They could build, for example, near the planned train station, which is to be located right next to the current Zvonařka bus station in the city center. Several other development companies also want to build in the area, some of which already own land.