THE Dublin docklands Irish Glass Bottle site – once valued at over €400m – is set to become a wasteland for industrial containers.
And the search is on for tenants who would help reduce the costs of maintaining the 25-acre landspace.
Labour Councillor Dermot Lacey said the site now resembles a "kip" and has called on Dublin City Council to prepare a detailed "masterplan" for the entire landscape.
"On top of that a minimum of 30pc social housing provision needs to be made in that plan. There's a chronic need for local social housing," he told the Herald.
"It's primarily in State ownership, and it's about time we started planning the city for the people who live in it, and not for developers."
At the height of the Celtic Tiger, the site was one of the most valuable pieces of real estate in Ireland.
Currently worth only one tenth of its peak time value, it has been embroiled in various controversies in recent years and its immediate future remains uncertain.
However, "For Let'' signs were erected in the area over Christmas by the estate agents Savills, on behalf of Nama.
They are looking for tenants who would like to lease parts of the site.
Prospective tenants may have to do some work on the now overgrown and uneven surface, although this cost is likely to be factored in any agreed rent arrangement.
The Glass Bottle site was bought in 2006 by Becbay, a consortium whose principals included the Dublin Docklands Development Authority, high profile developer Bernard McNamara, and the equally well known financier Derek Quinlan.
The €412m deal was one of the most controversial involving Anglo Irish Bank. Plans for a giant complex floundered as the economy went into tailspin.