We entered the ByTy Vítkov project as crisis managers just as the reinforced concrete skeleton was completed, including most of the linings. At that point, only 5% of the flats in the project had been sold, which did not meet the bank’s 25% conditions for financing. As part of our crisis management, all partners, save for the general contractor, were replaced. The general contractor had to be actively involved in redesigning the project, including the demolishing of several floors of already completed layouts and completely redesigning and revaluing the building without interruption and postponing the completion date by 2 months. We managed to turn this lossmaking project, through a complete redesign, including the marketing name, into a profitable one, of which we managed to sell 90% before the construction was completed. ByTy Vítkov is a unique project in Prague, combining modern architecture, proximity to nature and a location in the city center. This project is immediately adjacent to the southern border of the Vítkov Park in Prague on the hill of the same name, bordering with the New Town, Žižkov and Karlín areas.
Investment: 400m CZK • Number of apartments: 82 • Commercial space: 300 m²