Agreement reached over Drynam pyrite fund
A THREE-AND-HALFYEAR nightmare endured by the residents of a Swords estate beset by building defaults could be nearing a resolution after an agreement over a repair fund was reached. Homes in the Drynam Hall estate in Kinsealy experienced major cracks, moving walls and doors and other structural problems caused by pyrite contamination in the infill of the floors of the development, built by Menolly Homes. The presence of high levels of the substance, also known as 'fool's gold', was traced to materials produced by the Lagan Group at its Ballycoolin quarry and reports first emerged on the issue in June 2007.
Dozens of legal actions were subsequently lodged by homeowners and a proposed deal was later agreed between Lagan and Menolly last year relating to Drynam, and also to the Clongriffin and Coast estates in Dublin 13. Following what was dubbed the longest and costliest case in the history of the Commercial Court, the majority of the 550 homeowners affected have now accepted the plan, which will see the creation of a € 25.5 million trust fund to carry out repairs to their homes.
Fine Gael's Cllr Alan Farrell, who owns a home in Drynam, described the news as a 'positive step', which would bring a sense of closure to residents in the area.
'This offers homeowners an opportunity to draw a line under the affair and move on,' Cllr Farrell said. 'I think the certainty that this result will bring will go some way to alleviate some of the concerns that residents made have had.
'Speaking in a personal capacity, I too feel that perhaps it's now the best possible arrangement for residents on that basis that it offers finality to a very difficult situation. I myself am relieved.'
It's understood the affected homes will be remediated, with the repairs to be carried out block by block, at no cost to the owners.