Praha 3 approved an agreement with Central Group for construction on the site of the former Telecom

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Prague - The municipal district of Prague 3, along with the magistrate, has agreed with Central Group to conclude a so-called planning contract regarding the construction on the site of the former Central Telecommunications Building on Olšanská Street. The proposal for the contract was approved today by the district council and its representatives. The city council of the capital will also vote on it at its October meeting. The contract includes contributions from the developer to the municipalities worth approximately 271.1 million crowns.

Prague demands a certain amount per square meter of gross floor area for planned projects from developers through so-called contributions, with the main lever being the necessity for a change in the zoning plan. This is also necessary in the case of the project pertaining to the current contract. The contributions are based on a methodology that began preparation in the previous electoral term, utilizing the institution of so-called planning contracts established by the new construction law.

The proposal for the contract approved today pertains to the project named Centrum Nový Žižkov on the site of the already demolished telecommunications building with a prominent tower previously nicknamed Telecom, CETIN, or Mordor. The developer plans to construct approximately one thousand apartments at the site, with the dominant feature of the project being a tower designed by architect Eva Jiřičná, approximately 80 meters high with a wavy facade.

There were originally supposed to be three, but the investor reduced the number to one following criticism. According to the Deputy Mayor of Prague 3, Pavel Dobeš (STAN), it will be complemented by six 40-meter high-rise buildings. In addition to apartments, the project will include shops, services, restaurants, cafes, a park, and a new square connecting Olšanská and Jana Želivského streets.

The contract approved by the representatives of the municipal district includes financial contributions of approximately 43 million crowns for the magistrate and about 68 million crowns for Prague 3 for the construction of educational facilities. Additionally, Central Group will fund the construction of a kindergarten for about 110 million crowns, a new square for 12 million, the reconstruction of Jana Želivského Street for about 7.5 million, and a park with a forecourt for approximately 27 million crowns. "The five-class kindergarten for 125 children, which we will obtain thanks to this contract, is absolutely crucial with the extensive development of the area in the coming years," Dobeš stated.

This is another of the contracts that municipalities have concluded regarding construction in this area. Previous contracts pertained to the site of the former Žižkov freight station, where companies such as Central Group, Sekyra Group, Penta, and MY Park are constructing or planning to construct. The so-called planning contracts serve to ensure that developers preparing residential construction contribute to the city for the necessary public infrastructure, such as schools and kindergartens, health and social facilities, sports facilities, transport constructions, or greenery.