The owners of Dundrum Town Centre have handed over the keys to 15 stand-alone residential units to Dún Laoghaire-Rathdown County Council for use as social housing as part of a nearby 122 residential unit development.
The Dundrum Retail Limited Partnership, a joint venture between UK property group Hammerson and German insurance giant Allianz, is set to complete the construction The Ironworks this year.
As part of the development the 15 stand-alone homes in the ‘Foundry’ building located on the eastern side of the shopping centre have been signed over to the local authority on long-term leases, they announced Wednesday.
The development, which is managed by Pimco Prime Real Estate and Hammerson, is set to include 107 new apartments – made up of studios, and one and two-bedroom units – alongside 15 social homes.
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At an event in The Ironworks, Minister for Housing James Browne welcomed the agreement between the council and the developers.
“This development is a key milestone in the transformation of Dundrum into a vibrant, multipurpose destination, enhancing both the local community and the wider Dublin housing landscape,” he said.
Hammerson managing director of asset management in Ireland Connor Owens said the joint venture was “extremely pleased to contribute to the sustainability of the local community with the long-term leasing of these 15 social homes to Dún Laoghaire-Rathdown County Council.
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“This development forms part of The Ironworks scheme which will benefit from our operation and management of Dundrum Town Centre, and in turn diversify the use and purpose of the wider Dundrum Estate with sustainability at the forefront.
“We are also excited to be the first major Irish retail scheme to deliver homes on site.”
An Bord Pleanála recently refused a Hammerson subsidiary planning permission for an 881 residential unit development on the site of the old Dundrum shopping centre following a large volume of objections from locals.
The project, which is part of a wider €466 million redevelopment of the centre, sought to build 11 apartment blocks mostly comprised of one and two bedroom apartments. A 16 storey “landmark” building at the northernmost point of the site was included in the application.
The board said the development would “seriously detract from the architectural character of the area” after local residents variously described the project as “appalling”, “destructive”, and “a visual catastrophe”.
