I propose to take Questions Nos. 660 and 661 together.
The regeneration of Poolbeg West is an important step in the transformation of the Dublin Docklands area, with the potential to provide for 3,500 homes. In June 2021 following a comprehensive international open market campaign, a consortium of Ronan Group Real Estate, Oaktree Capital Management, and Lioncor Developments (“the Consortium”) acquired a controlling 80% shareholding in the company which owns the glass bottle site. NAMA maintains a 20% minority interest in this company. The development of the site will be undertaken by the Consortium.
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 requirement under Part V arrangements.
On the 24th of March 2022, Dublin City Council approved an application for the first 570 residential homes at the former glass bottle site. Under the SDZ conditions this will yield 57 Social and 86 Affordable units.
My Department remains committed to working with all relevant stakeholders, and the developers of the Poolbeg SDZ area to progress this site, subject to agreement on all the normal and relevant terms, including value for money aspects and work is ongoing in this respect.
