In Plzeň, 52 luxury apartments are being created in the Ehrlich Palace by Bořek Šípek

Plzeň - Construction of the Ehrlich Palace began today in the center of Plzeň, designed by architect Bořek Šípek. In the nine-story building, costing a quarter of a billion crowns, a total of 52 currently the most luxurious apartments in the city, as well as shops and restaurants, are set to be completed by August 2012. "The first floor should be finished by September. The entire construction will be completed within 14 months," said Michal Štěpánek, owner of the investment company MICHAEL Development, to ČTK.
      The building will be located in the most attractive area of Plzeň - in the park at Šafaříkovy sady. Construction began with a two-year delay, which the developer attributed to the accessibility issues of banks and the owners of neighboring properties.
      The price of luxury apartments will range from 38,000 to 65,000 CZK/m², with the lower price limit for the apartments facing the courtyard, not the park, reduced by 7,000 CZK/m². "We have started offering apartments completely anew and have a quarter of them reserved, especially by significant Plzeň businessmen and also two residents from Prague," Štěpánek added. Interested parties have already signed reservation contracts and paid a fee, which was a condition set by the bank to finance the project. Among the future apartment owners is, according to the investor, a prominent Plzeň sportsman and former politician.
      "It should be an icon of social prestige here in Plzeň. It is one of the best locations and yet in a completely new building," said Štěpán Kočí, managing director of the construction company. The building will additionally have a "face" thanks to Šípek, and its value is said to grow permanently. Štěpánek and Kočí believe that similar apartments in Prague around the Old Town Square would cost 150,000 CZK/m².
      According to Štěpánek, the economic crisis has not yet "passed much," but all over the world, attractive and significant locations are still selling well. "I bet on this, plus on the project of a prominent architect, so I hope for continued interest. Even now, when we first mentioned that we are starting construction, people who originally reserved it have already called," he added.
      In the highest seventh and eighth floors, there will be three largest duplex apartments, including a 200-square-meter residence. Other apartments in the palace will range from 2+kk to 5+kk up to 120 m², all with terraces and balconies. The building will feature a reception with 24-hour service, a sauna, a shop, and a restaurant, with 90 parking spaces in the basement. Cameras will monitor the safety of tenants. The corridors will be made of granite, and there will be a higher standard of flooring, plaster, doors, and windows.