Irish business magnates JP McManus and John Magnier, and Cork property developer Michael O’Flynn, are partnering to develop a 860-acre site in west Dublin.
The Irish Times reports that a joint venture group involving the three is preparing a masterplan for the site situated between Lucan and Castleknock, which they believe could deliver more than 5,000 new homes, a large public park and other amenities.
Planning consultants for the trio have already engaged in early-stage discussions with South Dublin County Council and Fingal County Council on a plan to develop the extensive landbank, which is currently used mostly for agriculture purposes.
They hope to secure the green light to develop about 400 acres of the site for housing, with more than 5,000 units envisaged subject to planning permission, and 20 per cent of these offered for social and affordable housing.
About 265 acres of the site would be set aside for a Liffey Valley public park at Edmundsbury, which would be handed over for community use.
This site is subject to a Special Amenity Area Order (SAAO), which means it has been designated as an area of exceptional interest from the point of view of natural, built and cultural heritage, according to Fingal’s website.
The land has been owned for a number of years by Mr McManus, a billionaire Limerick businessman, and Mr Magnier, who owns the Coolmore Stud in Co Tipperary with his family, and includes Luttrellstown Castle and golf course.
In a statement issued to The Irish Times, the O’Flynn Group said: “O’Flynn Group is aware of reports relating to lands in the Liffey Valley corridor which have been subject to a Special Area Amenity Order (SAAO) for many years.
“Our approach to any development will in the first instance be informed by our interaction with both Fingal and South Dublin County Councils in the context of their forthcoming development plans, both of which are currently being drafted.
"Those plans will, by their nature, involve all interested parties from the area, including landowners, local residents and their elected representatives.
“It would not be appropriate to pre-empt that process, other than to say that it is our intention to discuss with the local authorities how best to deliver on the SAAO and to, after many years, finally deliver a major public park for local residents and the wider community, as well as much needed private, social and affordable housing.”