The Zahrada Gallas housing project in Liberec will launch its second phase, with developers offering 77 cooperative flats in two more buildings. They will be on offer during October, announced Anna Ježková from Coop Development today. Zahrada Gallas is a project of Coop Development, Ungelt Partners, Liberec-based Stavební bytového družstvo Sever and Stavební bytového družstvo Praha. They plan to build over 300 flats in seven buildings on the site of a former textile factory in Liberec-Františkov.
Work on the project started last October, 94 flats of the first stage should be ready for occupation next year, the other flats a year later. On Thursday, 5 October, interested parties will be able to see a furnished model apartment in the first phase, which is about half occupied. Further viewings are planned for Thursdays 2 and 30 November. “For all those who sign a contract for a cooperative apartment by the end of the year, we guarantee a discounted interest rate of 4.89 percent per year for the first three years,” Ježková added.
Sales of Zahrada Gallas apartments began last June. Interested parties only need to deposit 20 percent of the price of the apartment and a one-off membership fee of CZK 50,000. Prices start from CZK 2.928 million for a 1-bedroom apartment with an area of 38 square metres, where the interested party only needs to pay CZK 636,000 including the membership fee to the cooperative and then pay the rest in the form of a 40-year lease. The contract with the cooperative guarantees that the price of the apartment will not increase during the construction period.
“The supply of new flats near the centre of Liberec is very small. Cooperative housing is still one of the more advantageous forms of ownership, where it is enough to deposit 20 percent of the price of the apartment and the entire cooperative takes the loan,” said Petr Černý, chairman of the board of SBD Sever. At a time when interest rates have risen significantly and many people cannot get a mortgage, he believes that cooperative construction is the way to own a flat.
The residential complex is being built on the site of a former textile factory and the developers are counting on the revitalisation of the whole area. The appearance of the houses was designed by the prestigious English architectural studio Chapman Taylor and is based on the first republican tenement villas typical for Liberec. The project was completed by the Třiarchitekti studio under the direction of David Mareš. The individual houses will have a maximum of six floors with a receding seventh floor. The Františkovský brook will become a part of the garden, there will be a playground, places for barbecues, yoga and relaxation.
Source: CTK
