The shipwreck will envelop the 135-meter-high building, named Top Tower, which is expected to become the tallest building in the Czech Republic and contain a mix of housing and office spaces.
Its striking form is designed by Black n' Arch and sculptor Černý to serve as a stark reminder of climate change.
Named Top Tower, the building has been commissioned by Prague developer Trigema and is currently undergoing planning permission for a site close to the capital city's metro station Nové Butovice.
Trigema has projected that construction will begin in 2021, with the building set to take less than three years to complete.
It is hoped that the tower, which is outside Prague's urban conservation area, will revitalize the public pedestrian zone outside the metro station.
Though little detail has been disclosed about Top Tower's structure, the shipwreck is expected to be made of red-colored steel and wrapped with climbing plants – standing out from the pared-back rectangular tower.
At its highest point, the shipwreck will enclose a public observation deck that is accessed by an external lift. The main building will also feature a rooftop garden offering visitors panoramic views of the city.
Inside, there will be approximately 250 small apartments available to rent, alongside offices and a cultural centre, and shop units on the lowest two floors. The entrance will be marked by a giant sculpture of a propeller that appears to have broken off from the submarine.
