Tuesday, 24 November 2020

Questions (108)

Jim O'Callaghan

Question:

108. Deputy Jim O'Callaghan asked the Minister for Housing, Local Government and Heritage when construction will commence on the glass bottle site, Ringsend, Dublin 4 in order to provide much needed social and affordable housing. [38288/20]

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Written answers (Question to Housing)

The regeneration of Poolbeg West is the next important step in transforming the Docklands area, given its strategic location east of Grand Canal Dock, with close proximity to important bridge connections to Dublin Port and North Lotts. The residential potential within the available lands is for a maximum of 3,500 additional residential units.

National Asset Management Agency (NAMA) is the responsible agency for the progression of this site in line with the requirements of the NAMA Act. In relation to the wider activation of these lands, I understand that in July 2020, NAMA has named a consortium of Ronan Group Real Estate (RGRE) and Colony Capital (Colony) as the Preferred Bidder to acquire the 80% shareholding with NAMA retaining a 20% shareholding.

A condition of the planning scheme, as modified by An Bord Pleanála on 9 April 2019 is the provision of 15% social and affordable homes on this site in addition to the 10% statutory under Part V arrangements.

My Department remains committed to working with Dublin City Council, any relevant Approved Housing Bodies and the receiver and/or developers of the SDZ area to progress this site, subject to agreement on all the normal and relevant terms, including value for money aspects.

Specific questions regarding NAMA are more appropriate to my colleague, the Minister for Finance.