Passerinvest Group is preparing its second large-scale project in Prague, Nové Roztyly. The project is to create offices and other jobs for nearly 3,000 people and to provide housing for around 1,500 residents.
“The total investment in Nové Roztyly, including public infrastructure and public utility buildings, is approximately CZK 5 billion,” said Martin Unger, Technical Director of Passerinvest Group.
The developer plans to start the construction of the Roztyly Plaza office building in H2 2021, with completion scheduled for 2023. It will be built in close proximity to the Roztyly metro station. Passerinvest Group also wants to offer basic services such as a supermarket or a pharmacy that have been lacking in the surrounding area as part of this first stage. A P+R parking lot is also to be added and the modernisation of the metro station is currently under negotiation.
Documentation for joint planning and construction proceedings is also under negotiation for the second, larger office building, Sequoia. The aim is to obtain the permit by the end of this year.
Sequioa is intended to screen the residential part of Nové Roztyl from traffic. However, in order to build the apartments, the zoning plan needs to be changed. If successful, Passerinvest Group plans to build 200 rental units and 400 apartments for sale.
Cornerstone Partners, the corporate and real estate private equity investment manager, together with Crestyl, the Czech real estate developer and investor, a leader in developing mixed-use real estate projects,...