Wednesday 22 November 2017

Council could buy more than 50 homes on Montrose site

Given high property prices in the area buying units on the RTÉ campus could prove prohibitively expensive for the city council.
Given high property prices in the area buying units on the RTÉ campus could prove prohibitively expensive for the city council.
Paul Melia

Paul Melia

Dublin City Council will be entitled to buy up to 10pc of homes built on RTÉ's Donnybrook site, which could result in more than 50 units being allocated for social housing in the capital's most upmarket suburb.

Up to 20 high-end houses and as many as 500 apartments could be built on the 3.49 hectare site. Under social housing rules, up to 10pc of all units must be offered for sale to the local authority, at a price slightly below market value.

However, given high property prices in the area - a five-bedroom house in Donnybrook is currently listed for almost €900,000 on daft.ie, and offers of €395,000 are being sought for a two-bedroom apartment in Stillorgan - buying units on the RTÉ campus could prove prohibitively expensive for the city council.

But under the so-called Part V rules, the developer can offer land in the subject site, and can transfer units in another part of the council's area, not necessarily Dublin 4, or provide an equivalent number of units by way of a long-term leasing arrangement. A combination of these options is also possible.

Recent figures show some 19,811 households are on Dublin City Council's housing waiting list. Social Democrat TD Catherine Murphy said the entire site could be used to provide social and affordable homes in the heart of the city.

Irish Independent

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