A NEW large scale €41m student residence project is planned for Dublin in a move which will help to ease the ongoing crisis in accommodation for people studying in the capital.
The project emerged as a result of a partnership between Dubai headquartered Global Student Accommodation (GSA) and Dublin property investment and management firm The Creedon Group.
A planning application has been submitted for a 2.56-acre site at Mill Street, in the south of the city centre, near St Patrick's Cathedral.
The partnership has sought approval for a 400-bed student residence, together with retail, restaurant and office space for occupation by local businesses.
It is the second large-scale student accommodation project proposed for the city announced this year.
Trinity College Dublin has already launched a tender for an architectural team for the redevelopment of Oisin House on Pearse Street into a 300-bed student accommodation.
That building currently houses a Department of Social Protection Office.
Dublin has traditionally lacked large, student-specific accommodation, but with both the Mill Street and Pearse Street projects due for completion in September 2017, the city would see an influx of 700 student residents.
The Mill Street project, announced today, would involve the refurbishment of a dilapidated historic townhouse at No 10.
This would provide the "centrepiece" for the development and would open up a section of the Poddle stream to public access.
GSA has said it will fund, develop and operate the student accommodation on a long-term basis.
The Creedon Group has committed to completing the development by mid-2017, having it available for occupancy by students and commercial concerns in September 2017.
Hundreds of jobs will be created during the construction and refurbishment phase as well as full-time positions once the scheme opens.