A large residential project is set to reshape the former Žižkov Freight Station area in Prague 3.

Slovak developer Cresco Real Estate plans to build up to 1,100 apartments on land it acquired from Finep together with the investment group Wood & Company.

The development already has a valid building permit, and construction of the first phase is expected to be completed in 2028.

Cresco previously entered the Czech market with the Soho Holešovice project. The Žižkov development marks its second major investment in Prague and one of the first large-scale housing projects to move forward on the long-unused freight station brownfield.

The project is named Yards Žižkov, a reference to the English term “freight yard” and to the inner courtyards that will shape the block-style layout of the buildings. The development will follow the urban plan for the area, with perimeter blocks and shared inner spaces rather than isolated buildings.

According to Cresco’s Czech CEO Aleš Svatoň, the company aims to approach housing as part of the wider city structure, with a focus on public space and everyday use rather than standalone residential buildings.

Housing will form the core of the project. Around 1,100 apartments will be built in two phases, offering layouts from small studio units of about 20 square meters to large family apartments reaching 158 square meters. Each unit is planned to include a balcony, terrace, or private front garden.

Prices are expected to start at around CZK 4.5 million, with the most expensive apartments exceeding CZK 13 million. Part of the housing stock will be offered for rent.

The ground floors will be designed for public use. Shops and local services are planned along an active street frontage, supported by a green pedestrian promenade and a newly created public square. As part of mandatory city contributions, Cresco will also fund public infrastructure in the district.

This includes the construction of a kindergarten with capacity for 125 children and financial support for expanding an elementary school in Jarov. The total contribution to Prague 3 is set at CZK 167 million, covering investments in public space, transport infrastructure, and a new bus stop.

Cresco took over a completed project design from Finep but revised it with Prague-based architectural studio Qarta. While the urban framework remained unchanged, the architects reworked the facades, ground floors, and apartment layouts. The aim was to better reflect the character of Žižkov and avoid a housing mix dominated by small units.

The Žižkov Freight Station area is expected to see rapid development in the coming years. Penta plans to complete its first residential phase nearby by 2028, including a public park. Sekyra Group aims to start building its Žižkov City project between 2027 and 2028. Central Group has already completed the first residential buildings in the area.

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