The Czech developer, Passerinvest Group, has expressed their serious interest in investing in the area of the former coking plant known as Karolina in Ostrava. The project was conceived by the company as a part of the overall urban concept. The aim is to develop a bustling part of the city which will be in perfect harmony with the adjacent historic core of Ostrava.

The 60-hectare Karolina site is in the immediate vicinity of the centre of the city, within 500 metres of the historic square. There used to be heavy industrial facilities in the area, which were demolished to stimulate further growth of the Moravian- Silesian city. What is more, the soil of the former coking plant went through the process of decontamination in the 1990s. A serious interest in investing in this important area has been expressed by the Czech developer, Passerinvest Group. Their project called Nová Karolina is aimed at developing a vast area in the heart of Ostrava as a homogenous urban entity. It is envisaged that the site will be converted into a city district where people work, do their shopping, have a good time and relax. In view of this, there will be – apart from residential/office buildings and a modern shopping centre – mixed-use buildings (shops, services, apartments, as well as catering and entertaining facilities) and cultural/social facilities. In addition, parks, areas for sports and relaxation, fountains and ample green areas are part and parcel of the project too. The urban plan focuses on traffic access to the area within the context of the traffic network of the whole city, calling for integrated transport system and an adequate number of parking places. The common project of Passerinvest and ECE has complied with a large number of requirements laid down by the City.

“We are aware that Karolina is a plot of extremely high value by any standards. Only a few European cities have such a vast area in the immediate vicinity of the historic core. Karolina is a big chance. The only right way is to regard this space as a homogenous urban entity. Karolina can be converted into a bustling part of the city, whose urban and architectural treatment is in harmony with the historic centre of the city. This is our aim,” says Radim Passer, Chairman of the Board of Directors, Passerinvest Group. “I am sure that we have relevant experience to achieve this aim, I mean experience that we have gained from the development of a 30-hectare site in Prague 4 – Michle, where we have been successfully building a multi-purpose complex, BB Centrum. This new development progressively transforms into a bustling urban district, which serves a great number of urban purposes. Office buildings are combined with residential houses, shops, restaurants, a sports centre and parks with ample green areas and fountains,” explains Radim Passer. “Within the Nová Karolina project, Passerinvest has entered into partnership with ECE company, who is interested in developing a shopping centre in one part of the Karolina site. We would like to develop a city district which naturally includes a high-quality shopping arcade, which is certainly part and parcel of every flourishing city centre except Ostrava. A quality shopping arcade can breathe some life into deserted parts of any city, as witnessed by Carrefour Nový Smíchov, which is now one of the busiest areas in Prague. Our ideas mingle together to determine our common course of action on the project. Two strong companies would enter into alliance, which would give the city reliable guarantee and establish greater trust in the overall plan,” adds Radim Passer.

Passerinvest Group is a Czech developer who has been operating on the domestic market for fifteen years. Established in 1991, the company has gained a wealth of experience in the area of development of residential, office and commercial buildings. With their multi-purpose BB Centrum scheme, they ranked among major Czech developers, acquiring a good international reputation.