THE developers of the €160m office, apartment and hotel project on Horgan's Quay are offering to lease 10% of the apartments to the City Council for use as social housing.
HQ Developments plan to redevelop the six-acre, unused site located to the west of Kent Railway Station.
The office, retail and residential project will sit on 6.1 acres and will include three office blocks that will accommodate 5,000 workers, 237 apartments in four blocks, a 136-bed hotel and 2,900 square metres of restaurant and retail space.
Under planning laws, referred to as 'Part V', an agreement must be reached between developers and the local council for a certain portion of lands or homes in a finished development to be given to the Council for social housing.
In the HQ project, the developers are offering Cork City Council 23 of the planned 237 apartments but are proposing that they are leased to the Council for a 30-period rather than transferring full ownership.
HQ Developments is a joint venture between the Clarendon Group and BAM Ireland.
The apartments they are offering to City Hall are made up of 12 one-bed apartments and 11 two-bed apartments.
According to the Department of Housing, the priority option for satisfying Part V arrangements is the transfer of ownership of the properties to the Council but that in some circumstances, with 'build-to-rent' projects, a leasing option may be more practicable.
In their planning application, HQ Developments said given the nature and ownership model of the proposed housing units and the fact that they are all 'build-to-rent' units granting a 3-year lease for the 23 apartments is the most appropriate way to satisfy the Part V requirements.
The developers plan to restore three significant buildings on the site: the Station House, the Carriage Shed and the former Goods Shed, while provisions have also been made for some 5,000 square metres of public realm enhancements to better link Kent Railway Station to the city centre.
A planning decision on the application is expected from Cork City council by October 31. However, this date could be moved back if planners seek further information project.