Prague is looking for a tenant to renovate the Colloredo-Mansfeld Palace

    PRAGUE - The Prague City Hall is looking for a tenant for the Colloredo-Mansfeld Palace on Karlova Street in the city center. The investor should restore the monument and manage it. Seven candidates submitted bids, four of whom advanced to the next round of the competition. It is not yet clear when the selection process will be concluded. Councilor Pavel Klega (ODS) estimates that it will take several months.
   "This is not a facility that can be solved in a simple way," Klega told ČTK today. In the preliminary round, interested parties submitted proposals on how they would utilize the palace. They now need to confirm their plans and also provide economic conditions. "We'll see what offers come in. If they are of high quality, we will consider them; if they are not of high quality, we have the option to cancel the competition," the councilor stated.
    The Baroque palace has been leased since 1994 by the Polyhymnia foundation. They committed to restoring the monument within ten years. However, the City Hall stated seven years ago that the building is not being maintained or protected from deterioration. The city then terminated the contracts and subsequently announced a competition.
    According to Klega, the whole process has been delayed because the management of the apartments within the palace was not clarified. The condition of the city is that they are preserved. However, tenants live in the apartments, and the city does not want them to enter into a relationship with the investor.
    "Tenancy agreements are made with the city," the councilor emphasized. The City Hall will discuss alternative housing with the tenants, he added.
    The costs of restoring the Baroque palace are currently unknown. According to Klega, the participants in the competition are to present an estimated cost of reconstruction. More than ten years ago, it was discussed that it would cost around 250 million crowns.
    Currently, the spaces of the palace on the Royal Route near the Charles Bridge are used only on the basis of short-term contracts, which can be quickly terminated according to Klega. He claims this is better than having nothing there at all.