Sunday 18 March 2018

Dublin Point Village set for biggest ever off-campus student accommodation development

Peter Flanagan

Peter Flanagan

A Nama-appointed receiver has submitted planning for what would be Dublin’s largest ever off-campus student accommodation development.

PwC’s Declan McDonald is seeking permission to develop the scheme beside the 3Arena in Dublin’s Point Village. It will cater for as many as 970 students once complete.

The scheme will consist of two blocks of between six and eight storeys and will contain a mix of student clusters containing between five and eight bed spaces, as well as twin and single study units.

Nama chief executive Brendan McDonagh commented: “This exciting initiative offers further evidence of Nama’s commitment to developing the docklands and bringing high-quality residential and commercial projects to the area.

“Given the well documented issues of the lack of supply of student accommodation in Dublin this initiative will bring high quality and extra capacity at a time where it is much needed.

“Nama has an interest in 75pc of the 22 hectares of land that can be developed in the Docklands SDZ area and is working closely with its debtors and receivers to use these sites to bring significant economic benefits to Dublin and the wider Irish economy.

"The projects we are working on will enhance the vibrancy of the Dublin Docklands and make it an even more attractive place to live, to work, to invest and to do business,” Mr McDonagh added.

PwC’s Mr McDonald meanwhile said the proposed development was in an “excellent location”.

“The development is in a prime Docklands site that is within walking distance of the National College of Ireland, Trinity College, Dublin Institute of Technology and a number of private colleges.

“As it is beside the LUAS Point Village terminus, students will also have easy access to Cherrywood, Tallaght and the Grangegorman Student Campus as soon as the LUAS Cross City project is complete,” he added.

DTZ Sherry FitzGerald is acting as property advisors to the Receiver and other stakeholders involved.

Mr McDonald made the application on behalf of the site owners Wintertide Limited (in receivership), Nama and CIE. The scheme was designed by TP Bennett Architects, a specialist in student accommodation.

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