The Palác Včela is a splendid Neo-Renaissance building situated at the corner of Přemysl Otakar II Square and Karla IV Street. The three-story corner building is an example of the spectacular German Renaissance; the generously designed building with demanding relief and sculptural decorations greatly surpasses the local standard. It was designed by Viennese architect Paul Brang. Until 1923, it was the seat of the German credit and mortgage association Biene, giving the building the name “Biene Palace”, translated into Czech as “Palác Včela”. It is the birthplace of the author Norbert Frýd, who recollected the house in his book Hedvábné starosti. This monumental building was followed by another phase of construction activity starting in the early 20th century, giving the street the appearance of a city avenue, highlighted by a tram line. It received numerous multistory buildings with richly ornate historicizing and Art Nouveau elements.