Prague

Historic Location Near Agnes Monastery Gets New Luxury Housing

After more than 25 years of delays, a long-vacant lot near Prague’s Agnes Monastery is finally being transformed. The location, once planned for the controversial “Marshmallow” project by architect Zdeněk Fránek, will now feature a high-end residential building—also designed by Fránek. A Historic Site with a Complicated Past For decades, the vacant land at the intersection of Kozí and U Milosrdných streets in Prague 1 remained undeveloped. In the early 2000s, Italian investor Augusto Razetto proposed a new development, but bureaucratic hurdles and public opposition halted progress. Fránek’s initial design, nicknamed the “Marshmallow,” faced strong criticism, preventing the project from moving forward. Now, after nearly a quarter-century of negotiations, the project has secured final approval. “Building in Prague’s Old Town is an immense challenge due to strict permitting rules. But this location, combined with a premium architectural design, makes Rezidence U Milosrdných a truly unique rental property,” said Jiří Vajner, CEO of Creditas Real Estate. The six-story building offers 27 fully furnished apartments ranging from 2+kk to 4+kk layouts. Additionally, it features two commercial spaces, underground garages, and storage units. Monthly rents start at 45,000 CZK. A Design Chosen Through Architectural Competition The final design was selected through a closed architectural...

by Prague Morning Feb 28, 2025

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