The Land Development Agency (LDA), in partnership with builders O’Flynn Group, has announced plans for 542 new homes in Dublin.
The new A-rated apartments are part of Southwest Gate, a residential scheme on the Naas Road in Dublin 12.
The granted scheme is being developed by the O’Flynn Group and, when completed, will provide for 1,140 new homes along with additional uses such as a hotel, retail and commercial accommodation.
A further three acres are also available for future development.
The first phase of 542 new homes is being delivered by the LDA and the O’Flynn Group through the Project Tosaigh homebuilder partnership initiative.
This is where the agency partners with private homebuilders, providing the financial stimulus required to ensure the construction and completion of new homes.
The completed homes are then owned by the LDA and made available as cost rental or sold by the LDA in partnership with local authorities through affordable purchase schemes.
In this case, all 542 new homes will be made available as cost rental.
Cost rental provides a secure, long term rental option with rents at least 25% below market rates. It is designed to assist those who do not qualify for social housing or other state housing supports, but who are struggling to afford to rent in the private market.
Separately, this phase of the development will also see O’Flynn Group deliver 52 Social homes.
John Coleman, the chief executive of the LDA, said the project will deliver a total of 542 new homes in a prime location as part of a well-planned, sustainable and larger development that includes new facilities and amenities.
“All the homes will be built to the highest standards and residents will be able to enjoy a great quality of life at rents that are affordable,” Mr Coleman said.
“The LDA is pleased to be working with an experienced delivery partner in the O’Flynn Group, and we look forward to bringing these new homes to the market,” he said.
“Projects like Southwest Gate are playing an important role in addressing the pressing demand for affordable and secure rental accommodation in Dublin,” he added.
Michael O’Flynn, chairman and chief executive of the O’Flynn Group, said the company has a proven track record in delivering quality large-scale mixed-use developments.
“This project will provide much needed housing in Dublin City. We look forward to delivering on our vision and would like to thank our colleagues at the LDA for their hard work in bringing this partnership to fruition,” he added.
