Major new resi scheme planned in Prague's Letňany district

The private equity company Odien Group is planning to build a major residential project in Prague – Letňany on the former grounds of the truck producer Avia. Hospodářských noviny reports that the company hopes to complete a change to the master plan by June and that it will be able to begin the redevelopment of this 60 ha brownfield site. The company reportedly plans to use around 60 percent of its capacity to build on the site for residential – up to 2,500 flats. But it will also leave room for a commercial zone and light manufacturing as well as schools, sports and health facilities. The first of three phases of development should represent an investment of between CZK 6bn and CZK 8bn.