Cairn Homes has agreed in principle a €30.175 million deal to sell 61 apartments to Dublin City Council for social housing from its planned development on former RTÉ lands at Donnybrook, Dublin.
The builder has lodged 'fast track' plans for its €338 million 'Project Montrose' with An Bord Pleanála to secure planning permission for 614 residential units.
The developer purchased a 8.64 site at RTÉ's campus for €107.5m three years ago.
Now, as part of its obligations under Part V of the Planning and Development Act where it is required to allocate 10% of any new private development to social housing, Cairn Homes has reached a deal with the city council concerning its plans.
In a letter dated May 20 to Cairn Homes from Dublin City Council presented to the appeals board, senior council official, Natasha Satell said that Cairn Homes has engaged in Part V discussions "and an agreement in principle to comply with their Part V requirement has been reached".
"Dublin City Council's preferred option is to acquire units on site and is bound by the planning permission granted."
The apartments put forward by Cairn are made up of 37 one bedroom apartments and and 24 two bed apartments.
The documentation put a value of €521,377 on the two bed apartments and €472,797 on the one bed apartments. They are to be located in one eight-storey block in the scheme.
Planning documentation with the application states that Project Montrose represents "a once in a lifetime opportunity for a landmark development in one of Dublin’s most desirable neighbourhoods".
It goes on to say that the scheme "offers a unique vision for sustainable development in a parkland setting" and will provide for a series of taller "Villa’ style buildings fronting the Stillorgan Rd with a perimeter of lower 'Pavillon’ buildings along the rear boundary.
O’Mahony Pike Architects is the firm retained by Cairn Homes to design the plan that is made up of 611 apartments across nine buildings ranging in height from four to 10 storeys in height.
The proposed scheme also includes three townhouses, one childcare facility and two cafes.
