Residents at The Cubes apartment complex in south Dublin are facing bills that could run into the millions to fix problems including mould and damp in their homes.
People living at the complex, at the Beacon South Quarter, in Sandyford, told the Irish Independent how serious issues had developed in recent years.
It emerged over the weekend that 200 investors have now launched a High Court action over alleged defects at the apartments.
U2 bass player Adam Clayton and drummer Larry Mullen Jnr are among the investors to have begun the action, the 'Sunday Business Post' said.
A total of 15 defendants have been named, including Laing O'Rourke Ireland, PJ Hegarty & Sons and John Paul Construction.
One woman said she had been living in the apartment for around eight years, but the problems had only set in recently.
She said: "I have problems with the bathroom with damp and now there's mould growing.
"There are also problems around the windows and with the ventilation.
"I know that a number of other residents have had it looked at, but I don't know what's happening."
Another woman said she lives with her children in the apartment and the conditions were a concern for her.
"There's also a problem with the light, the way the apartment was built, we get almost no natural sunlight," she said.
"These were supposed to be apartments built to the highest standard, I can't believe we are having these problems."
She said specialists had been sent to assess problems with the apartment.
"That was a while ago, but I don't know what's happened since," she said.
Some of the residents said they were tenants with Dún Laoghaire Rathdown County Council or the Circle Voluntary Housing Association, while others owned the apartments or were renting.
The council was also named as one of the prosecuting parties in the case against the developers.
Calls to the management company of the complex were not returned last night and the council could not be contacted for comment.
The Cubes are located in blocks as part of a large apartment complex developed by Paddy Shovlin's Landmark Developments around 2007. Many of the apartments were sold off the plans, with the most expensive fetching as much as €1.1m.
They were hailed at the time as luxury, desirable residences, designed around a courtyard. In some cases, the apartments were built with two balconies.
However, residents have complained that some of these balconies are now leaking.
There are more than 600 apartments in the development, however it us understood not all of them have been hit by the alleged defects.
Two engineering firms were employed in May to look into the problems at the apartments, especially those related to the cause of leaks on some of the balconies.
Development loans taken out by Shovlin were taken over by Nama, which appointed Mazars as the receiver of the development. Mazars has in turn appointed Aramark Property to manage the apartments.
When Landmark went into receivership, Nama injected more than €10m extra funding into the scheme.
The legal proceedings have been launched with a view to securing remedial works necessary on the apartments.