Penta will start building apartments worth over CZK 1.1 billion in Prague's Petrská quarter this summer

Prague - The company Penta Real Estate will begin construction of an apartment building in the Petrská quarter in Prague 1 this summer, intending to invest more than 1.1 billion crowns into 82 apartments with two commercial spaces. The project is expected to be completed in 2028. Penta announced this in a press release today. The new apartment building will be built on the site of a former telephone exchange from the 1970s on Petrská Street between the Church of St. Peter and Těšnov.

According to the press release, the project is intended to include high-standard housing with 96 parking spaces and a courtyard with greenery. Penta obtained a valid building permit after an agreement with the owners of surrounding plots and with representatives of local residents regarding the technical conditions for the demolition of the original building. According to Rudolf Vacek, the head of construction at Penta Real Estate, an acceptable compromise was achieved that takes into account the investor's needs and ensures the safety and health protection of local residents.

The architectural design was prepared by the Slovak studio Pantograph in collaboration with conservationists and representatives of the Prague 1 city hall. The facade facing the street will be divided into three sections and should connect with the original appearance of the historic development of Petrská Street. The height solution of the building is designed to match the existing building. Some artistic elements on the house are expected to be preserved.

The development component of the Penta group is also working on other projects in the metropolis. For example, on the site of the former Walter factory in Prague 5, the site of the Nusle brewery in Prague 4, or between Masaryk Railway Station and Florence, where it has so far completed the office building Masaryčka. It also plans to start the first phase of construction on land in the area of the former Žižkov freight station in Prague 3. Earlier, it completed a project at Vítězné náměstí in Dejvice that, like the planned house in Petrská, mainly consists of premium apartments.

In the center of Prague, not as many new apartment buildings are being constructed as in the outskirts of the city. Construction is often complicated by difficult changes in zoning plans, opposition from residents, or interventions by conservationists. Last year, for example, the real estate branch of Creditas Bank completed 27 apartments in the Residence U Milosrdných behind the Na Františku hospital, where there were earlier considerations for the construction of a controversial building nicknamed the marshmallow.

New rental apartments in the historical center of the metropolis were also completed by Zeitgeist Asset Management. On Karolíny Světlé Street, near Smetanovo nábřeží, 37 apartments were remodeled into a modern form. A new apartment building with a gallery was also built in Malá Strana. The investor was the joint-stock company Galerijní, and the design was worked on by the studio of Ladislav Lábus.