Prague’s Florenc to Undergo Billion-Crown Makeover

A major transformation is coming to Florenc, one of Prague’s key transportation hubs.

The project has attracted unprecedented international interest, with 157 architectural studios from 33 countries competing to design four new residential and commercial blocks. The winners are expected to be announced this autumn.

The project focuses on a strategic site west of the Florenc bus station, a key transit point in Prague. The area is bordered by a major roadway, a railway line to the south, and Na Florenci Street to the west.

The current competition builds on a previous urban design contest that established the layout of streets, building blocks, and height regulations.

Four Architectural Competitions for Four Blocks

At the end of last year, Penta Group launched four parallel architectural competitions for the planned blocks. The development will be primarily residential, but will also include shops, offices, and potentially a hotel.

“This new district will bridge the heart of Prague—bustling with business and tourism—with Karlín, a neighborhood known for its livability and work-life balance,” said David Musil, head of Penta Real Estate, about the Florenc 21 project. City officials and representatives from Prague 1 and Prague 8 have also praised the investor’s approach.

A jury of experts, led by German architect Stefan Behnisch, has selected eight teams per competition to participate in a series of three workshops.

These sessions, involving jury members, city representatives, and other stakeholders, will help refine their designs. In total, 25 studios are competing, with some participating in more than one category. The final selections for each of the four competitions are expected in October.

Penta’s Expanding Role in Prague’s Urban Development

The Florenc development is closely tied to Penta’s projects around Masaryk Station, where the company has built large office complexes—a move that has faced criticism from some civic groups and opposition politicians in Prague 1. Penta is also part of CR-City, a joint venture with Czech Railways, which aims to cover train platforms and build new structures at Prague’s Main Station.

According to David Musil, the entire Florenc project is expected to cost 20 billion CZK (approximately €800 million).

The construction could be completed in five years.

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