In Olomouc, the construction of a new urban district with up to 500 apartments is being prepared

Olomouc - A new urban district with up to five hundred apartments, 27,000 square meters of administrative and commercial space, and more than a thousand parking spaces is to be gradually developed in the area of the former malt houses and cold stores in Olomouc in the coming years. The construction costs are expected to range from 800 million to one billion crowns, Ladislav Král from Nová Sladovna company, which prepared the project, said today to ČTK.
    Nová Sladovna plans to build five separate blocks in the former malt houses and neighboring cold stores in the New Ulice district, creating a new quarter in this part of Olomouc with streets, squares, and civic amenities. A footbridge will span the railway track next to the new buildings. So far, only a new Ibis hotel has been built on the site, which will be part of the proposed complex of buildings.
    The Nová Sladovna project anticipates the development of nearly 20,000 m². A total of 499 apartments are to be constructed. The gross usable area designated for housing will be 54,512 m². Administrative space will account for 11,644 m², and 15,456 m² is earmarked for commercial use.
    The new complex is expected to feature various shops and services and almost 1100 parking spaces. According to Král, it is still too early to talk about which traders or service providers will move into the new district.
    If Nová Sladovna obtains all the necessary permits, it intends to begin construction of the new buildings near the city center and Smetanovy sady in the autumn of next year and complete it by the end of 2020. "The project implementation schedule will depend on the financial capabilities of the investor," the investor's announcement stated.
    The Nová Sladovna project will rank among the largest real estate investments in Olomouc. The area of the former Milo factory near the city center is to gradually transform into the new urban district of Šantovka. The project, valued at ten billion crowns, has been prepared by SMC Development.
    So far, the shopping center Galerie Šantovka, which hosts two hundred stores, has been built. Galeria Šantovka, with a retail area of 46,000 square meters, is the largest shopping center in the Olomouc Region and ranks among the top ten largest centers in the country. In the new district, the investor is preparing, among other things, the construction of a complex of residential buildings and offices.
    The project also includes a new high-rise building, Šantovka Tower. However, its construction is currently complicated by the new zoning plan for Olomouc, which does not accommodate high-rise buildings in close proximity to the city's heritage preservation area.