Developers propose Dundrum social housing estimate placed at €42.6m

by Rachel Cunningham
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Property developer Hammerson, is proposing to build 88 social housing apartments, some of which could cost as much as €788,741, in its plans for the redevelopment of the village and town centre, writes Rachel Cunningham.

The estimated overall price for the social housing apartments, which the UK firm intends to sell to Dún Laoghaire-Rathdown County Council to meet its planning legislation requirements, currently stands at €42.6m.

The developer is proposing that 46 one-bedroom apartments, 37 two-bed apartments and five three-bed apartments be designated for selling as social housing.

This would represent 10 per cent of the €466m and 881 apartment scheme that has been submitted as a proposal to An Bord Pleanála, with the remaining ninety per cent slotted to be privately-owned housing.

Proposing 11 blocks of 335 one-bedroom apartments, 85 two-bed, three-person apartments, 379 two-bed, four-person apartments and 82 three-bed apartments across four zones, the developers are seeking planning permission for the next eight years to see the plan through to completion.

Dundrum Retail GP DAC, a subsidiary of Hammerson, has stated that the Strategic Housing Development (SHD) proposal could involve what it described as a “landmark” 16-storey apartment block.

The current projections for the cost of price tag of a one-bed is €385,301, while buyers are expected to pay €788,741 for a three-bedroom unit.

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