Plan to revitalize Florenc bus station area gets green light

Development firm Penta Real Estate has today received authorization to acquire the company that owns Florenc bus station and the surrounding area, which is a major step in Penta’s plans to redevelop and revitalize the site.

Following approval from the antimonopoly Czech Office for the Protection of Economic Competition, Penta will take over ČSAD Praha Holding (which owns the current site) and will work on the Florenc 21 project. The plan sets out to build more apartments and office spaces adjacent to the bus station and fill the area with more green land. The acquisition price was not disclosed, and the estimated investment for the project is several billion Czech crowns. 

As per the Florenc 21 website, the project sets out to revitalize Florenc in general. It plans to create “a resilient and compact urban district proactively responding to climate change” that also “integrates the city's diverse neighborhoods.”

It also states that it wants to encourage walking and cycling in the area, as well as improve connections to the city center. The bus station itself is also set to be modernized and upgraded, with new shops, ticket desks, and currency-exchange offices. 

Thus far, there has been no timeframe set for when work in the area will start. As per the Florenc 21 project, developments are set to be implemented by 2028.

Penta last month completed the construction of two buildings next to Prague’s Masaryk rail station, which will mainly be used for office space but will also contain restaurants, cafes, and various services. 

Among other projects started or completed by Penta are widescale commercial developments in Smíchov (known as the SmíchOFF project), Vinohrady (the Churchill project), and Jinonice (Waltrovka Mechanica). It was also behind the creation of the Florentinum building in Prague’s New Town, which today hosts a variety of shops and offices belonging to EY, HSBC, and BlueLink.