Tuesday 21 November 2017

Hines to lodge Cherrywood application

Hines’s application for the town centre marks the first application of its kind since the crash. Stock Image
Hines’s application for the town centre marks the first application of its kind since the crash. Stock Image

Gretchen Friemann

US property giant Hines is expected to submit its long-awaited planning application for a residential housing project and town centre at Cherrywood within the next fortnight.

The move paves the way for the construction of much-needed homes in Dublin's commuter belt, as well as the formation of a new, largely self-contained suburb.

Hines's application for the town centre marks the first application of its kind since the crash. The mammoth document, to be submitted to Dún Laoghaire-Rathdown County Council later this month, will lay out plans for 1250 apartments as well as a town centre made up of shops, offices, a hotel and cinema.

Hines's final preparations come amid an anticipated wave of planning applications for the vast site, which has been caught up in numerous legal disputes over the decades.

The US firm, headquartered in Houston, Texas, owns close to half of the available building land, which will eventually accommodate 8,000 new homes.

Last year Hines sold two lots at Cherrywood to the acquisitive listed residential developer Cairn Homes for €21.5m and took an option to buy a third lot for €9.2m.

The company plans to build 300 homes at the site.

Hines is expected to pursue similar deals over the next few years as it parcels off its sprawling land bank to other investors or developers.

The move to gain planning permission for this first phase of the development follows the start of vital infrastructure works at the site earlier this year with building contractor and civil engineers John Cradock/Jons Civil Engineering working on a number of parks, roads and utilities, including gas, water and electricity cables.

Hines had intended to submit the application in April but it was held up by a delay in the agreement of the common infrastructure fund for the special development zone (SDZ). This plan was approved and voted on recently by Dún Laoghaire-Rathdown County Council.

Irish Independent

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