On Monday, the City of Prague, the Municipal District of Prague 3 and FINEP ceremonially signed an agreement on cooperation on the development of the Žižkov Freight Station brownfield. This is the first ever tripartite agreement on the construction and at the same time on the amount of the developer’s contributions for public amenities in the location, which will amount to CZK 167 million.

The former Žižkov Freight Station premises is one of the largest brownfields in Prague. The site spans 71 hectares and includes the historic building of the former freight station. The building is owned by Czech Railways and was declared a cultural monument 10 years ago. Most of the rest of the land is owned by six different developers. Extensive changes to the zoning plan are needed to enable the intended transformation of the area. However, these changes are conditional on the conclusion of agreements between the City of Prague, the Prague 3 district and each of the landowners, which will specify not only the respective construction projects, but also financial contributions to be made by the developers to finance public amenities.