Dublin City Council reverses previous refusal for 516 apartments
Plans for more housing at the former Irish Glass Bottle site at Poolbeg in Dublin have received a boost.
A letter lodged with the application on behalf of Pembroke Beach DAC puts an indicative cost of €675,000 on the two bedroom apartment and €495,000 on the one-bed units. resulting in an overall indicative cost of €29.25m for the 50 units. The National Asset Management Agency had a 20 per cent shareholding in the project but sold it last year. The consortium today is made up of funds managed by Oaktree Capital Management, L.P, Lioncor and RGRE.
Chief executive of Lioncor, John Maxwell said on Wednesday: “The success of this planning application at Glass Bottle has been the result of the successful collaboration between ourselves, our design team and Dublin City Council.”The new scheme is to also include 117 build-to-rent units. Planning consultants for the scheme, Tom Phillips + Associates said that the planning application has addressed the previous reasons for refusal.
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