Ostrava looks for investor to convert high-rise

Published: 15.07.2021 Related countries:  Singapore Singapore

Ostrava looks for investor to convert high-rise

The city of Ostrava has announced the first stage of a public contract, a so-called market consultation, whose objective is to choose an investment partner to convert a high-rise in Ostrčilova Street. The proposal to rebuild the high-rise into an apartment building, increase it by one floor, and add a parking facility was prepared by the architect Eva Jiřičná’s Czech studio AI-DESIGN. Deputy mayor Zuzana Bajgarová (ANO) said that the business model counted on the city selling the real estate to the investor for the construction, the investor implementing the construction project as a whole. The city will subsequently buy part of the real estate (flats for rent and parking bays). (Source: ČIA News, www.cianews.cz/en)