Council's decision to block plan for 450 apartments branded 'comical and illogical'
A decision to refuse permission for the construction of more than 450 apartments has been branded "illogical".
Colm Lauder, an analyst at Goodbody Stockbrokers, described Dún Laoghaire-Rathdown County Council's decision as "comical", because he said it "belies the council's own development plan for the area".
He said it defied logic at a time when there was a severe housing shortage.
The Irish Independent reported yesterday that the scheme by Irish Residential Properties (Ires) Reit, which would see 467 apartments built in three 14-storey blocks at a site called Rockbrook, has been rejected by the council.
Ires Reit is the country's biggest private landlord.
"The proposed development would set an undesirable precedent, seriously injure the amenities of property in the vicinity and would be contrary to the proper planning and sustainable development of the area," the council said of the planned apartment scheme.
The council also warned Ires Reit, which is backed by Canada's Capreit, that in any subsequent planning application for the site it would have to address a number of significant issues related to transport, amenity, drainage and other matters.
But Mr Lauder said: "The news that the Ires development at Rockbrook in Sandyford was refused by Dún Laoghaire-Rathdown County Council, primarily due to height and scale, may belie logic in the midst of a severe housing shortage."
He added: "Comically, it also belies the council's own development plan for the area.
"The refusal comes in spite of the fact there are existing built schemes and permitted schemes at heights of up to 15 storeys in the surrounding area.
"Indeed, the original Ires application would appear to have followed the development plan guidelines both in terms of height and density, as well as aligning with the national government push for greater density alongside key public transport links."
Ires Reit had planned to sell two-bedroom apartments at the development for €350,000 and one-bedroom units for €270,000.