An investor is planning the construction of 500 flats for a brownfield site in Olomouc along with the creation of 27,000 sqm of commercial office space and over 1,000 parking places. The price tag for the scheme, according to the daily denik.cz, is between CZK 800m and CZK 1bn. Five new buildings are planned, in all, creating a new neighborhood including streets, squares and services. A new Ibis hotel already stands in the location and is being drawn into the designs. The project calls for the construction of 11,644 sqm of office space and 15,456 sqm of retail. Olomouc is undergoing a quiet boom at the moment. Following the construction of the Šantovka shopping center in the center, that project’s developer is also planning a new highrise Šantovka Tower, though denik.cz writes that this scheme faces planning difficulties because of the proximity of nearby historical monuments.
