Developer puts €33m price tag on 71 homes for social housing plan in capital

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One of the country’s best-known house builders, Glenveagh, has put an estimated price tag of €33.4m on 71 apartments it is planning to sell to Dublin City Council for social housing.

his follows Glenveagh lodging ‘fast-track’ Strategic Housing Development (SHD) plans to An Bord Pleanála for 702 build-to-rent units at Castleforbes Business Park at Sheriff Street and East Road, Dublin 1.

The development on the six-acre site, located 400m from the Spencer Dock Luas stop, is to comprise nine apartment blocks ranging from one storey to 18 storeys in height.

As part of its Part V social housing obligations, Glenveagh is planning to sell six three-bed apartments at an indicative cost of €791,531 each to the City Council as part of the proposed €33.4m deal.

The builder is also planning to sell 14 two-bed apartments to the council at a cost of €641,899 each and 41 one-bed apartments at a cost of €408,074 each.

Glenveagh is also planning to sell 10 studio apartments to the council at a cost of €297,323 each.

In a letter to the City Council, director at Glenveagh Living Ltd, Wesley Rothwell, said that the contents of the letter “are purely indicative and are intended to provide a reasonable estimate of the costs and values of the units based on construction costs prevailing at the time of the application”.

Mr Rothwell said that the ultimate Part V agreement is dependent on the final grant of permission and the site value at the time of planning permission.

In a letter to Glenveagh’s consultants, Brady Shipman Martin, the City Council said that its preferred option is to acquire units on site.

The overall apartment plan is to be made up of 406 one-bed units, 100 studios, 169 two-bed units, 15 three-bed units, eight two-bed duplex units and four live-work duplex units.

The planning report lodged with the application says the vision for the proposed site “is to transform an under-utilised brownfield site through a major urban regeneration project, by consolidating the various areas which meet at this confluence point”.

The planning application is the final of three applications Glenveagh has for the overall site.

The planning report said: “This new urban quarter will combine living, employment, public realm, and a significant cultural offering in a diversified model of housing supply, new adaptable employment, and community use opportunities.”

The tallest building will reach 206ft in height and the planning report states that the proposed tall building would be considered a “local landmark”.

Third parties seeking to make submissions on the application have until January 19 to do so.

The appeals board is due to make a decision on the application in April.

Irish Independent

Source: Irish News