REAL ESTATE NEWS

The Renovation of Budanka

A 350 million CZK reconstruction of the Budanka area could result in up to 56 new flats in the trendy neighborhood of Smichov.

Budanka, once a thriving workers' housing community constructed by quarrymen in the 19th century has a lively history in the city of Prague. The area has served as an SS hideout during World War II, as a rehearsal space of the legendary dissident rock band Plastic People of the Universe in the seventies and currently as a shelter for squatters. Today Budanka is in a state of ruin with run-down houses and flats covered with loud graffiti and unwanted weeds.

After years of indecisiveness and debating, Prague 5 City Hall has started revealing the possible fate of this historical landmark. From the outlook of the reconstruction plan by the investor Geosan Alfa, it seems Budanka's houses and flats will be either meticulously restored to their original state or partially rebuilt. The investor's plan also involves building 5 new modern houses. The architect involved with this project, Jan Sestak, has decided not to copy the style of the older houses. According to the project investor, the reconstruction will provide up to 56 new flats, and plenty of retail as well as gastronomy space. It is not without interest that the original neighborhood restaurant will be reopened.

It is not clear whether the building of these new flats, shops and houses will be realized, since Prague 5 city councilors have yet to approve the project. If the plans are accepted, the reconstruction could begin between 2010 and 2011.