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Dundrum developer demands 42.6 million euros for 88 social housing units

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Council housing that the owner of Dundrum Town Center is proposing to build will cost up to €788,741 each.

K real estate giant hammerson has put an indicative total price of €42.6m for 88 flats it intends to sell to a council for social housing in Dundrum, South Dublin.

As part of his social housing obligations under the Planning Act, Hammerson intends to sell the homes to Dún Laoghaire-Rathdown Borough Council.

The proposal under Part V of the Planning and Development Act 2000 represents 10 percent of the €466 million, 881-unit housing project Hammerson is proposing to build. Ninety percent will be condominiums.

As part of the Fast Track program submitted to An Bord Pleanála, Dundrum Retail GP DAC, a subsidiary of Hammerson, has confirmed that the Strategic Housing Development (SHD) proposal will include a 16-storey block of flats north of the Side? site.

The project will consist of 11 blocks in four “zones” and developers are aiming for an eight-year building permit to complete the plan.

The scheme consists of 335 one-bed apartments; 85 two-bed three-person apartments; 379 two-bed four-person apartments; and 82 three-bed apartments.

As part of the proposed council housing deal, Hammerson has set a target price of €788,741 for the three-bedroom units, €567,708 for the two-bed apartments and €385,301 for the one-bed apartments.

The company proposes to sell 46 one-bedroom apartments, 37 two-bed units and five three-bed social housing units.

In a letter accompanying the preliminary cost estimates, BMA Planning on behalf of the Hammerson subsidiary states: “The estimated costs are intended to provide a reasonable estimate of the costs and values ​​of the proposed Part V units based on the construction costs and values, the time of this application prevailing at the time of the project.”

In a response to applicants, the Council said that “although the unit costs exceed the initial cost threshold approved by the Council, it is recognized that the costs declared are estimates as actual costs cannot be quantified at this preliminary stage”.

The letter adds that “should planning permission be granted, the Council may request a revision of the Part V proposal after an assessment of costs and land values, a review of current housing demand and a determination of the availability of finance”.

The program also includes 10 retail units, a grocery store, four cafes/restaurants and a crèche.

In addition, there will be a new public space called Church Square behind Holy Cross Church.

As part of a comprehensive planning submission submitted with the project, BMA Planning said: “The proposed development of the Dundrum Village site is an appropriate response to this important town center and would provide quality residential and supportive village center uses in a central and easily accessible location , location in need of renewal”.

The designers said the vision is to create a vibrant place to live, underpinned by the restoration of the traditional shopping street along Dundrum Main Street.

https://www.independent.ie/irish-news/dundrum-developer-puts-426m-price-on-88-social-housing-units-41543739.html Dundrum developer demands 42.6 million euros for 88 social housing units

Fry Electronics Team

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