Central Group has completed the first phase of its Park Quarter project in Prague 3, offering 389 low-energy, luxury apartments. This phase marks the beginning of the transformation of Nový Žižkov into a modern residential district. Central Group has invested over CZK 200 million in the reconstruction of Basel Square, with further investments planned for the surrounding area.
The Park Quarter project in Nový Žižkov aims to build approximately 2,500 apartments, providing housing for 5,000 people, making it the largest residential district in the Czech Republic developed on a brownfield site. Construction began in February 2022, and the first city block now comprises seven architecturally original apartment buildings. The project includes layouts ranging from 1+kk to 5+kk.
“Žižkov is undergoing a major transformation and is becoming a new ‘trendy’ district, similar to the neighbouring Karlín. Thanks to its strategic location in the wider centre of the metropolis and ample greenery nearby, it is an ideal place to live. This is evident from the huge interest in our project, with 80% of the first phase already sold. We have already started construction of the second phase,” said Ondřej Šťastný, Chief Analyst at Central Group.
The Park Quarter’s excellent transport accessibility enhances its appeal. It is a mere 5-minute walk to the Želivského A metro station and a 10-minute tram ride to Wenceslas Square. The recently completed Basel Square Residence, with its stone cladding and high-standard design elements, completes the first block and enhances the appearance of Basel Square in Prague 3.
The Park Quarter is a prime example of transforming a neglected brownfield site, the former Žižkov Freight Station, into a modern urban district. In addition to new apartments, the area will feature a large kindergarten, a promenade with greenery and water areas for relaxation, and a new 1.5-hectare park. The ground floors of many apartment buildings will house commercial spaces for shops, services, restaurants, and cafes. The architectural and urban concept was created by renowned architect Jakub Cigler, with nine leading studios designing 21 different architectural concepts for the individual buildings.
Among the standout features of the Park Quarter is the architecturally unique Basel Square Residence, offering 60 luxury apartments with air conditioning, including a penthouse with a view of Prague Castle. The apartment buildings are highly energy-efficient (class B), featuring exclusive design elements, glass railings, and wooden or aluminium windows with triple glazing. Ecological features include park landscaping with water cooling elements, green roofs, rainwater retention tanks for watering greenery, energy recovery lifts, and preparation for electric car charging.
The apartments are designed to a luxury standard, with wooden floors, underfloor heating, designer bathrooms, front window blinds, air conditioning, and heat recovery systems for comfortable and healthy living. Prospective residents can visit a show apartment in the Basel Square Residence by appointment to experience the design and view the locality.
Central Group’s commitment to the Park District extends beyond construction. They have invested significantly in the reconstruction of Basel Square and will build a new six-class kindergarten, a large public park, and a pedestrian zone with water features. The developer’s contribution to the city and district amounts to CZK 291 million, although actual investments will exceed CZK 400 million. The state will also benefit from more than CZK 3 billion in VAT from the project.
