The office has approved the first part of the construction of Penta at the Žižkov Freight Station

Prague - The construction authority of Prague 3 has approved the first phase of residential construction planned by Penta Real Estate in the northern part of the former Žižkov freight station area. This was learned by ČTK from the official bulletin of the city hall. In the first phase of the project, 280 apartments will be built in four blocks, along with spaces for services, shops, and healthcare facilities. The company Central Group is already building on the Žižkov brownfield, and other developers are also preparing construction there, with the area expected to accommodate up to 20,000 people.

The lands where Penta plans to build were recently purchased from Czech Railways for 731 million crowns. They are located along Malešická and K Červenému dvoru streets, and in total, builders are expected to construct 554 apartments in two phases according to the company's website, complemented by shops, services, healthcare facilities, a green courtyard, and areas for relaxation and sports.

The first phase of construction, which the building authority has tentatively approved, will have a gross floor area of 29,375 square meters according to the building permit. The company will also create 357 parking spaces, with a total of 700 spaces planned in the project. The construction of the first four blocks is expected to begin in the first quarter of next year and be completed in 2028. An appeal against the building permit can be lodged within 15 days from its announcement, which was posted on the official bulletin on Wednesday.

Prague councilors approved a major change to the zoning plan in April, which the city had been preparing for almost 17 years and which unblocked construction on most of the former freight station area. Even before this, Central Group had begun building apartments on their lands, where no zoning plan change was needed. Other companies, such as Sekyra Group, Finep, and My Park, are also planning to build apartments in the area.

The city has also negotiated contributions from developers for the development of infrastructure for the city and Prague 3, amounting to around two billion crowns, which, in addition to financial contributions, include the construction of educational facilities and parks. A tram line will lead to the future district, with the public transport company planning to start construction next year.

A separate issue is the extensive functionalist train station building, which Prague purchased from Czech Railways at the end of last year for 1.43 billion crowns. According to representatives of the city, a school, apartments, shops, and cultural spaces are expected to be added in the future. The building was constructed between 1934 and 1937 and ceased to serve its original purpose in 2002.

Penta Real Estate is one of the platforms of the Central European investment group Penta, founded in 1994. Penta's real estate division, which focuses mainly on the office, residential, and retail segments, currently has more than 20 projects in the Czech Republic and Slovakia. In 2024, the value of Penta Real Estate's assets exceeded 1.75 billion euros.