Entrepreneurship
Theme: Entrepreneurship
Cross-cutting themes covered: Regenerating deprived areas
Name of project: Regeneration of Andel
City: Prague
What is it? The intensive regeneration of Andel has succeeded in promoting entrepreneurship in a declining, inner city, ex-industrial brownfield site. The neighbourhood is now home to a busy enterprise hub, with shopping centres, restaurants and cinemas.
Who is it? The regeneration process was enhanced by a public-private partnership between ING Real Estate (which came into the area in 1990) and the local municipality.
Where is it? In the 1980s the Andel neighbourhood faced lack of investment, commercial decay and the deterioration of its housing stock. Since the regeneration of the area in the 1990s, Andel is now one of the most dynamic areas in Prague.
Who funds it? The regeneration of the Andel area is not a single project but a series of projects, financed mostly by international investors. Local authorities have also invested in the infrastructure of the area, working to improve green areas and public spaces.
How does it work? Regenerating an ex-industrial site: In the 1980s the Andel neighbourhood faced lack of investment, commercial decay and the deterioration of its housing stock. In 1990, ING Real Estate put forward a development plan for the area, drawn up by a French architect, Jean Nouvel. This plan was developed with and agreed by the local authority, the Municipal Council of Prague 5, and local property was sold to the Group.
This paved the way for the construction of the Golden Angel, which was completed in 2000. The Golden Angel, a high-profile building, is situated in the centre of the former industrial quarter. This flagship project acted as a catalyst, stimulating further investment in the previously neglected area.
Anything else? Alongside these private investments, the local authority has invested in public spaces, such as a pedestrianised shopping street.
What are the results? This public-private partnership has succeeded in creating a secondary city centre for Prague in the Andel district, helping to attract many businesses into the area.
Since the regeneration of the area in the 1990s, Andel is now one of the most dynamic areas in Prague. Since 2000, follow-up developments have emerged on the sites of abandoned industrial complexes in Andel. In fact, the area is experiencing a construction boom, with office blocks, shopping centres and entertainment facilities being built across the locality.
The regeneration of the Andel area has positively affected the local population, regardless of their social status. The area has had a physical makeover and residents can now benefit from the extensive range of services and jobs available in the locality.
Is the model transferable ? Several elements of the Andel regeneration model are transferable, for example, the way the project has built on the partnership between the developer and the local authority.
Building on local competitive advantages? The energy and investment of the developer constituted a major competitive advantage.
What are the barriers to transferability? Lack of private sector investment constitutes the biggest barrier to transferability. In Prague, the municipality has been enthusiastic about the approach of the developer, providing a good starting position for dialogue. Barriers to transferability could be unwillingness, on the part of the municipality or the developers, to co-operate with each other.
