JOHNNY RONAN’S REAL estate firm will build nearly 1,000 social and affordable homes as part of the development of a “new suburb” in Poolbeg.

Ronan Group Real Estate, Oaktree Capital Management and Lioncor Developments today finalised an agreement with NAMA to create a new “Dublin city quarter” on the site of the former Irish Glass bottle factory on the Poolbeg peninsula.

The project at “Pembroke Quarter” will deliver up to 3,800 homes, over one million square feet of commercial space, educational facilities, public open space, civic space and other community amenities.

The project is being billed as “a unique opportunity to revitalise a former industrial area of the south inner city and provide much-needed housing in Dublin”.

A quarter of the residential units will be social or affordable housing.

Planning permission for the first phase of the development, 600 apartments, will be sought in the coming weeks. NAMA will retain a 20% stake in the development.

In a press statement, Rory Williams, CEO of Ronan Group Real Estate, said: “This is the start of the next chapter of Poolbeg’s story. What is now a barren industrial plot will be reborn as a new community where families will find jobs, homes and a new, more enjoyable and sustainable way of living.”

“Everyone understands that we have to make the most of the limited land we have in Dublin, and this new suburb will do just that, delivering homes for well over 10,000 people at a time of huge demand for housing.”

John Maxwell, CEO of Lioncor Developments, added: “Dublin needs a bold vision for its future development and it must be more than just building houses and offices, with no sense of creating an identity for a place.

“We need to think about how communities work, and offer a sense of belonging, pride, security, and inspiration”, he said. “The design of this new suburb will be about world-class placemaking, creating somewhere that people will be proud to call home.”

Brendan McDonagh, CEO of NAMA, said: “We are delighted to see this superbly located Dublin Bay site move into the first phase of its development lifecycle with an initial planning application for 600 residential units.”

Last month, An Bord Pleanála refused Ronan planning permission for a planned 40-plus storey tower scheme for Dublin’s docklands.
The appeals board refused planning permission for the 1,005-unit apartment Waterfront South Central scheme after concluding that it is precluded from granting permission after a High Court ruling last November.