At least 3,000 new homes to be built in heart of Dublin
Multi-billion euro project for Irish Glass Bottle site
An ambitious multi-billion euro project to build at least 3,000 new homes in the middle of Dublin will be a blueprint for future city living.
The Irish Independent has learned that the Government has approved plans by Dublin City Council to create a strategic development zone at Poolbeg which will see homes finally being built on the notorious Irish Glass Bottle site.
Bought for more than €400m in 2006, but worth less than €50m today, the site is part of a 34-hectare landbank in Dublin 4 that will benefit from a fast-track planning process.
At least 3,000 new homes have been earmarked for the site, just a half-hour walk from the city centre, and will help alleviate the housing crisis currently crippling the capital.
And a minimum of 10pc of the units will be earmarked for social housing - although this could be increased further.
Housing Minister Simon Coveney said the plan will create "city living of real quality".
"We need to create and encourage a demand to live in the city, with city living of real quality, and using the transport networks and infrastructure the State has spent a lot of money on," he said.
Nama will spend €800m on the housing project.