What's in a Prague street name

Na Veselí was built in 1931.

‘Veselí’ translates as ‘hilarity’, ‘merrymaking’ or ‘mirth’.

And, much as it would be lovely to assume the street got its name from that, it’s just the name of a settlement that was one here instead.

I assume it’s got something in common with ‘ves’, which translates as ‘village’.