Glenveagh, one of the State's best known housebuilders, expects to charge Dublin City Council €33.44 million for 71 social housing units at a major development on Sheriff Street.
In a letter to the city council about how it might meet its Part V social housing obligations under the plan, Glenveagh estimated that the units might cost the council up to €791,531 each.
That price relates to six three-bed apartments it is offering the council in the 702 unit scheme.
The builder is also planning to sell 14 two-bed apartments to the council at a price of €641,899 each and 41 one-bed apartments for €408,074 each. Glenveagh is also planning to offer the local authority 10 studio apartments at a price of €297,323 each.
Glenveagh has lodged a “fast track” planning application for 702 apartments in nine blocks on the six acre site at Castleforbes Business Park at Sheriff Street and East Road, Dublin 1. The plan, which is classed as a strategic housing development will be considered by An Bórd Pleanála.
The overall plan comprises 406 one-bed units, 100 studios, 169 two-bed units, 15 three-bed units, eight two-bed duplexes and four live-work duplex units.
Located 400 metres from the Spencer Dock Luas stop, the blocks will range from one to 18 storeys reaching up to 206 feet in height.
In a letter to Dublin City Council, Wesley Rothwell, director at Glenveagh Living, said the figures were "purely indicative and are intended to provide a reasonable estimate of the costs and values of the units based on construction costs prevailing at the time of the application".
He said any ultimate Part V agreement was dependent on the final grant of permission and the site value of the time of planning permission.
In a letter to Glenveagh’s consultants, Brady Shipman Martin, the city council said its preferred option was to acquire units on site.
The planning report lodged with the application states that the vision for the proposed site “is to transform an underutilised brownfield site through a major urban regeneration project, by consolidating the various areas which meet at this confluence point”.
The application is the last of three applications Glenveagh has for the overall site.
“This new urban quarter will combine living, employment, public realm, and a significant cultural offering in a diversified model of housing supply, new adaptable employment, and community use opportunities,” the report says.
The application is open to submissions until January 19th, with the appeals board due to a decision on the application in April.