Developer HB Reavis wanted to build an office building instead. However, the land was then bought for 870 million by the company PSN, which joined forces with Penta within the framework of a joint venture to build a new house with not only offices but also housing in an extremely attractive and lucrative location. It could be built next year.

"We are still continuing with the demolition because the removal of the original underground structures is slow, even considering the proximity to the mouths of the railway tunnels," describes David Musil, Penta Real Estate's director of residential development.

During the last six months, in addition to partial demolitions, work was carried out on the re-laying of networks, and the investors also consulted with the city and the authorities on an architectural study. The new look of the house came from a competition, in which the design of architect Jakub Cigler, who was already involved in the original design for the previous owner, won.

“Architect Cigler had the most sophisticated design and the strongest in how the house was able to fit into the surrounding environment. We are really looking forward to the project, because the office building that will look out onto Vinohradská Street will be a real landmark, similar to Drn on Národní třída, only on a slightly smaller scale," promises David Musil.

Approximately six to seven thousand square meters of offices should be created in the section along Vinohradská street. In the back, Penta Real Estate and PSN are preparing almost two hundred apartments. "There will be a new courtyard, the complex will be permeable, we are also planning enough parking. I think it will be very nice urban living," adds Musil, adding that a zoning decision will be requested in the near future.

If everything goes smoothly with the permits, the project could have a zoning decision at the end of this year, could receive a building permit next summer, and in the summer of 2027, developers would like to approve a new block of mixed-use development in the city center.

According to Penta, the total investment in new buildings and surrounding public spaces will probably be close to two billion.