Dublin 8: from €370,000The first apartments to be built on the site of Clancy Barracks beside the River Liffey hit the market this week, writes Bernice Harrison

The first thing to note is that it's no longer called Clancy Barracks. The demilitarisation of the historic army site extends to the name - from today, when the massive redevelopment of the 19th century barracks in Islandbridge is launched for sale, it will be called Clancy Quay.

The "quay" part comes from the small section of the 13-acre site bordering the River Liffey and it is on this stretch that the first blocks of apartments will be built.

Sixty of these apartments are now being offered for sale - off the plans - with prices starting at €370,000 for one-bedroom apartments of 46-50sq m (495-540sq ft); the two-bedroom apartments of 68-94sq m (730-1,000sq ft) are from €480,000; and the three-bedroom apartments of 90-102sq m (970-1,100sq ft) are from €585,000.

The prices are inclusive of a valuable car-parking space with each apartment. Planning permission has been granted for 900 units so this first offering of just 60 is a small, early start.

The off-the-plans deal is one clearly designed for buyers in this nervous market willing to take a punt on this first phase which will not be ready for occupation for at least two years. Looking at the figures, it also seems to be squarely targeted at people with a matured SSIA burning a hole in their pockets.

Usually buyers have to put down a 10 per cent deposit on signing contracts. However, in Clancy Quay, buyers of this first phase are being asked only for a total of €25,000 on signing contracts - from then they will have those two years, or maybe more depending on the speed of construction, before they have to complete the sale.

What's on view from today is an impressive looking-model showing the entire site with its many original cut-stone and redbrick buildings, as well as the planned new blocks. There is also a mock-up of the interior of the apartments - this has been constructed in the original Officers' Mess at the entrance to the site which is now serving as a sales office. This two-bedroom "apartment" features a contemporary-style kitchen in an open-plan livingroom, fitted wardrobes, smart bathrooms fixtures and tiling. There's also a timber floored deck.

Buyers will only glean general information as to finishes from this mock-up and should look closely at plans to decide on the shape and style of the particular apartment they are interested in.

When Clancy Quay is complete it will be a mix of housing types, from one-bedroom apartments to townhouses in 45 blocks - from newly-built blocks to refurbished Victorian buildings - and ranging in size from one to seven storeys, with some nine-storey elements.

There is planning for a hotel and there will also be shops, a leisure centre, restaurants, a medical centre and a crèche. There will also be a 24-hour concierage service.

Looking at the plans there does not appear to be a great deal of open green space left in the 13 acres - although as the site is adjacent to the Phoenix Park that may not be too much of an issue.

There will, however, be a new riverside boardwalk and landscaped areas dotted around the development.

It has taken the Clancy Barracks project some time to get to this point. Initially, in 1998 when there was talk of the Department of Defence selling off the land, Dublin City Council engaged in negotiations which would have meant that the site would be used for social and affordable housing. These negotiations collapsed and the site went for tender with Florence Properties buying in 2002 for more than €25 million.

Florence Properties is owned by Florence Properties Jersey, which in turn is owned by a trust controlled by the family of David Kennedy, an Irish-born property developer active in London. Plans for the site were vigorously opposed; notably by An Taisce and local interests in Kilmainham who objected particularly to the demolition of some of the old buildings and the height of some of the new blocks.

The joint sales agents for Clancy Quay are Hooke & MacDonald and Sherry FitzGerald New Homes.

Plans, the model and the mock-up apartment are on view on the site from today.