Developer plans to sell 532 homes for social housing deal worth €1.5 billion

The proposed sale by Gerard Gannon Properties is the largest ever by a developer under the Government’s Part V social housing regime that requires developers to sell a percentage of private residential developments to local authorities for social housing
Developer plans to sell 532 homes for social housing deal worth €1.5 billion

Gordon Deegan

Developer Gerry Gannon is proposing to sell 532 homes for social and affordable housing for an estimated €243 million to two Dublin local authorities.

The proposed sale by Gerard Gannon Properties is the largest ever by a developer under the Government’s Part V social housing regime that requires developers to sell a percentage of private residential developments to local authorities for social housing.

The 532 homes earmarked for social housing arise from Mr Gannon’s firm lodging €1.15 billion plans for the largest yet Strategic Housing Development (SHD) ‘fast track’ scheme to be put before An Bord Pleanála.

The company has lodged plans for a mixed use scheme that include 2,527 residential units for Belcamp Hall, Malahide Rd at Belcamp in north Dublin and the proposed Part V sale is contingent on the Gannon firm securing planning permission for the housing plan.

The scheme straddles lands in the administrative areas of Dublin City Council and Fingal County Council.

As part of the proposed Part V deal with Dublin City Council, the builder is proposing to sell 273 apartments for social housing to the city council for €129.4 million.

Documents lodged with the planning application state that the costings are provisional and subject to change.

However, they show that one three-bedroom apartment for five people has an indicative cost of €779,100 while a two-bedroom apartment for four has an indicative cost of €539,100.

The Gannon firm is proposing to sell a mix of 259 apartments, duplex units and houses to Fingal County Council for €113.7m.

The highest priced unit is a three-bed flat/duplex unit for five people at an indicative cost of €577,300.

Ambitious scheme

The 532 homes account for 21 per cent of the 2,527 homes in the proposal.

A planning statement lodged with the scheme states that the allocation of Part V units will occur throughout the three phases of the development.

The Gannon firm is seeking a 10-year permission to complete the ambitious scheme.

The planning statement by Downey Planning states that the proposed development at Belcamp will create a new neighbourhood between the Malahide Road and a regional road, in the unique setting of the Belcamp Hall lands and Dublin’s Northern City Fringe.

The scheme is made up of 1,780 apartments, 473 houses and 274 duplex units.

The notice states that 1,969 units are ‘residential’ with 558 apartments to be ‘build to rent’. The highest apartment block rises to nine storeys.

The mixed use scheme is to also include 18 retail units, three cafes/restaurants, two childcare facilities and one sports changing building.

The planning statement submitted by Downey Planning states that the scheme offers an efficient use of land which will assist in the expansion and subsequent completion of the wider Belcamp neighbourhood, while encouraging the rejuvenation of the area through higher density

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