The Prague assembly is expected to improve the creation of its own development company which will focus on the construction of rental apartments on city-owned land. The idea has already been approved by the city council, so it remains only for the assembly’s go-ahead for the development company to begin operating as of June 1. Lidove noviny reports that its first projects could be built in Prague 8 and in Nove Dvory in Prague 4. If all proceeds according to plan, the company could submit documentation for planning permission for its first two projects with 200 and 400 flats by the fall. “This institution is supposed to help the construction of flats in Prague, but there’s no way it can replace private investors,” says city councilor Jiří Pospíšil. However it should be their partner and should prepare individual projects. The result will be faster and more efficient construction on city land.”
