€1bn Cherrywood Town Centre gets green light

by Rebecca Ryan
0 comment
Artist's impression of the Cherrywood development

The €1 billion Cherrywood Town Centre development has been granted planning permission.

It has been hailed the biggest single urban development project in Ireland.

The mixed-use urban quarter will include 1,269 build-to-rent apartments, retails, offices, bars, restaurants and a 200-room hotel and other leisure facilities.

International real estate firm, Hines, has welcomed the council’s decision to approve plans for a new 2.1 million-square-foot development.

The development company said that Cherrywood Town Centre will in time provide housing for over 3,200 people; office accommodation for 2,300; and employment for an additional 2,500 retail and leisure workers.

Hines senior managing director Brian Moran said: “We would like to thank the council for giving their stamp of approval to the Cherrywood Town project, which will form the centrepiece of the wider Cherrywood strategic development zone (SDZ).

“Today’s announcement also comes as we complete construction of the first phase of our infrastructure development project at Cherrywood, which includes three brand-new flagship parks, a state-of-the art all-weather multipurpose pitch, six new tennis courts and a sports pavilion, 5.4 kilometres of roadways, pedestrian footpaths, cycle paths, greenways and over 3,000 trees.”

In a statement, People Before Profit TD for Dun Laoghaire, Richard Boyd Barrett, said while planning permission is welcome, “this major development will do little or nothing for those affected by the housing crisis, unless the Government ensures they are genuinely affordable to those on low and middle incomes.

“As it stands, this development will simply yield a profit bonanza for developers, Hines, who got this site for a song from NAMA, thanks to the misguided policies of the Government.

“Current rents in the Dun Laoghaire area are €2,000 plus for most rental units, which is totally unaffordable for the vast majority of people who are caught up in the current housing crisis.

“It is outrageous that Hines got this site at a large discount from NAMA, has received €15 million in government funding from the Local Infrastructure Housing Activation Fund (LIHAF), but will be allowed rent and sell these units at totally unaffordable levels.

“Even a small social housing (Part V) requirement will cost the council a fortune to buy from the developer and currently the amount of ‘affordable’ housing that will be delivered is likely to be negligible and unaffordable because the Government have not defined affordability and have imposed no meaningful affordable requirement on private developers.

“Put simply, this site could and should solve the housing crisis in Dun Laoghaire, but it won’t because of current government policy.”

In addition to the Town Centre project, Hines has just submitted a new planning application for 146 apartments, situated at the junction of Bishops Street and Tullyvale Road, its first application outside of the Town Centre.

The apartments will consist of one, two and three-bed units built over four blocks.

Related Articles