Developer wants to build a new district in the former ČKD foundries

Prague - Developer AFI Europe Czech Republic plans to create a new district with apartments, offices, shops, and a park in Prague's Vysočany, on the former site of ČKD Slévárny and Moura, close to Kolbenova Street. The company announced today that the project received land use decision in February. The costs of the project have not been disclosed by the Israeli developer.
    The investor intends to apply for a building permit for the first two phases later this year. The residential buildings and an administrative building are expected to be constructed first. The developer has postponed the project several times in the past, with the latest discussions indicating that they wanted to start construction in 2013.
    On the 15-hectare site, the developer also plans to build a kindergarten, a garden restaurant, and a fitness studio. According to the documentation assessing the project's impact on the environment, 14 buildings are to be constructed in the area. Ten of them will mainly consist of offices, while the remaining four will be apartments.
    "The multifunctional project AFI City will significantly contribute to the development of this previously neglected part of Vysočany and will offer many residents of Prague and its surroundings jobs, housing, and leisure in a pleasant environment with excellent transportation access to the city center," promises the CEO of AFI Europe Czech Republic, Doron Klein.
    The former industrial complex in Prague's Vysočany was established in 1896. After 1989, some operations saw a decline or closure, and the area fell into disrepair.
    Developer AFI Europe, part of the Africa Israel Investments Group, focuses on real estate markets in Central and Eastern Europe. It has been operating in the Czech Republic since 1997 and has completed, among others, the Palác Flóra, the residential complex Korunní Dvůr, the AFI Palace Pardubice shopping center, the first phases of the residential projects Tulipa Rokytka and Tulipa Modřanská rokle, and the D8 European Park logistics park.