Written answers

Tuesday, 2 November 2021

Department of Housing, Planning, and Local Government

National Asset Management Agency

Photo of Chris AndrewsChris Andrews (Dublin Bay South, Sinn Fein)
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377. To ask the Minister for Housing, Planning, and Local Government if he will engage with NAMA on the issue of NAMA transferring its interest in the glass bottle site, Ringsend to Dublin City Council in order to provide the 600 social and affordable homes that were committed to; and if he will make a statement on the matter. [52633/21]

Photo of Darragh O'BrienDarragh O'Brien (Dublin Fingal, Fianna Fail)
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The regeneration of Poolbeg West is the next important step in transforming the Docklands area, given its strategic location east of Grand Canal Dock, with close proximity to important bridge connections to Dublin Port and North Lotts. The residential potential within the available lands is for c. 3,500 additional residential units.

The National Asset Management Agency (NAMA) being the responsible agency for the progression of this site in line with the requirements of the NAMA Act, in July 2020, named a consortium of Ronan Group Real Estate (RGRE) and Colony Capital (Colony) as the Preferred Bidder to acquire the 80% shareholding with NAMA retaining a 20% shareholding. As the Agency winds down in 2025, any consideration regarding the transfer of NAMA's 20% shareholding to a suitable State body would be a matter for the Minister for Finance as line Minister in conjunction with NAMA.

More broadly, a condition of the planning scheme as modified by An Bord Pleanála on 9 April 2019, is the provision of 15% social and affordable homes on this site in addition to the 10% statutory requirement for social homes under Part V arrangements.

I am advised that there is a planning application currently under consideration by Dublin City Council for the first 600 residential homes at the former glass bottle site. This application includes a provision for 90 affordable homes and 62 social homes.

My Department remains committed to working with Dublin City Council, any relevant Approved Housing Bodies and the receiver and/or developers of the SDZ area to progress this site, subject to agreement on all the normal and relevant terms, including value for money aspects.


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