The Land Development Agency (LDA) has bought a site on Dublin’s Naas Road with the potential to deliver over 1,200 cost rental homes.
The agency has reached an agreement with the owners to purchase the 3.79-hectare Royal Liver site.
It follows an independent valuation process and is part of the LDA’s private land acquisition initiative.
The Royal Liver site is located next to the Red Luas line and close to the Grand Canal at the junction of Naas Road and Kylemore Road.
There is existing planning permission for housing development on the land, with an initial first phase delivering at least 465 new homes.
The site is located at the planned City Edge redevelopment and near to two other affordable, cost rental and social developments being delivered by the LDA in partnership with Dublin City Council at Bluebell and Cherry Orchard Point.
In 2023, the LDA announced its intention to buy well-located development sites in key cities with existing services, the potential for high numbers of homes and ideally with existing planning permission.
It sought and subsequently received expressions of interest from landowners, which it has been actively assessing and evaluating.
In December 2023, the LDA made its first purchase as part of the initiative when it paid €44 million for land in Clongriffin in north Dublin with existing planning permission for over 1,800 homes and the potential to deliver a total of over 2,300 affordable and social homes.
“Our private land acquisition initiative has proved to be an effective way of adding to the LDA’s land bank and our housing delivery pipeline,” said John Coleman, Chief Executive of the Land Development Agency.
“It is expected that further purchases will be completed if prices are right and we are continuing to examine and evaluate expressions of interest as we receive them,” he added.
