Prague City Council. On Monday, the Prague City Council allowed the construction of a multifunctional building near the Prosek metro station in Prague 9. The city will receive CZK 8.5 million without VAT, determined by an expert opinion.

Thanks to the use of the development coefficient from the municipal land with an area of 978 square metres, an eleven-storey building with underground garages will be built on the corner of Vysočanská and Zubrnická streets. The entire building will contain 149 flats and approximately 1,000 sqm of commercial space. There will also be a new blind two-way road with parking spaces along the southwest side of the building and a pedestrian connection between Zubrnická and Vysočanská Streets.

The developer already owns the neighbouring land, which was originally owned by the Prague 9 municipality. The original project, for which he applied for approval in 2018, was modified according to the requirements of the Institute of Planning and Development of the capital city. Prague.

"It makes a lot of sense to build right next to the metro station, it is in line with the approach of transit-oriented development, i.e. development oriented towards public transport. By allowing the city to draw coefficients from its land, the city gains considerable financial resources. It is therefore a typical example of a win-win situation," summarises Adam Zábranský, Councillor for Property, Transparency and Legislation.