https://theprime.cz/features/bratislava/fire-at-eurovea-tower-in-bratislava/Prague Development Company (PDS) unveiled its vision for 8 ha of land the southwest portion Palmovka. The area should eventually see the construction of 2,200 city rental flats and up to 50,000 sqm of space not just for offices, restaurants and smaller shops but for a community center and library. The emerging plan respects the ideals of the 15-minute city and is expected to be built out over the next 5 to 10 years. Prague has also decided to offer Centrum Nova Palmovka (the unsightly, unfinished shell of a building it took over from Metrostav and Prague 8) for use by the European Space Agency (EUSPA).
PDS is the company in charge of developing Prague’s land holdings with a focus on building its stock of rental housing for use by its more economically vulnerable residents. It’s an important mission especially now, since out-of-control residential prices is leading to rapid and wide-scale gentrification. The city-owned company is currently working on 12 major pieces of land. In all, this comes to over 850,000 sqm of GLA of real estate under development, including around 8,000 flats.
Planning progress in Palmovka means that the completion of development along the entire right bank of the Vltava is finally coming into view, since it connects with Sekyra Group’s Rohansky Ostrov development.
“Thanks to its size, industrial past and development potential, Palmovka is comparable with Anděl,” said Prague’s deputy mayor Petr Hlaváček. “While the redevelopment of the brownfield in Smichov was driven by private investors, it’s initiated by the city in Palmovka thanks to its unified land holdings. Our ambition is to transform Palmovka into a new neighborhood pulsing with life that can have the same gravitational strength along the right bank of the river as Anděl does on the left.”
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