J&T Real Estate plans to build more than a thousand apartments in the vicinity of Invalidovna and Libeňský most within ten years and invest a total of 600 million euros.
"We feel at home in Karlín and it's amazing to look at our biggest project and future flagship directly from the office," says Dušan Palcr, chairman of the board of J&T Real Estate.
J&T will start the construction of the first stage sometime at the turn of the year. First, there will be 258 apartments in three buildings, the next three buildings will follow. Investment costs for the first stage are around 140 million euros. The construction will proceed from the Libeň bridge to the neighboring Rohan City project, which is being built by the Sekyra Group.
"In the Nový Rohan project, we have a total of five stages on four hectares. We plan to build a multifunctional district in the style of 15-minute cities," says Jiří Ochetz, a member of the board of J&T Real Estate. According to him, the first stage of construction could be completed around the end of 2027. J&T plans to complete the entire quarter within ten to twelve years.
The urban solution for the entire area is based on a study prepared for Prague by the studio of architect Pavel Hnilička. All investors who build on Prague's Rohan Island are governed by it.
J&T Real Estate chose the local studios Kaama, Unit, Loxia and Under construction, as well as the internationally recognized Slovenian studio Bevk Perović arhitekti, based on its own competition, for the specific form of the houses and public space.`
"We wanted to focus not only on the streets, but also on spaces that are fewer in old Karlín, namely on the courtyards and inner blocks between the houses," says Jana Mastíková, chief architect of the Loxia studio. "Therefore, we have created a new layer of passable inner blocks and courtyards that will complement movement along the streets," he adds.
In addition to apartments, the new district will also include an elementary school, which will be built by Prague 8 with the contribution of developers within the so-called contributions. Between the Vltava and the new development on Rohanské ostrov, the capital is also planning an extensive 65-hectare park, which will also serve as flood protection.
In addition to residences, J&T also plans to have spaces for shops and services and approximately 50,000 square meters of office space on the ground floor of the buildings. All apartments will be for sale.
"Given the attractiveness of this location, we do not expect to keep any apartments for rent. Due to the unfavorable situation on the office space market, we are considering changing the function of some office buildings to residential. However, they will again be residential units for sale," adds Jiří Ochetz.
