US property giant Hines has lodged a planning application to develop a visionary new town centre in Cherrywood in the south Dublin borough of Dún Laoghaire-Rathdown.
The application envisages a mixed-use development of 195,096sq m (2.1 million sq ft), which would include 1,269 rental apartments and 54,348sq m (585,000sq ft) of shops, restaurants, cafes, bars, leisure outlets and a hotel.
The new town centre will be constructed on an elevated site integrating the existing Luas stops at Cherrywood and Bride’s Glen. There will be a selection of open and covered public spaces.
Brian Moran, senior managing director of Hines Ireland, said the planning application marks a “hugely significant milestone” for the wider Cherrywood development. The town centre would be the “beating heart” of Cherrywood and the centrepiece of the company’s vision of a dynamic living, shopping and amenity rich environment. The open plan apartment designs are planned to incorporate the latest ideas on apartment living, based on Hines experience in the US and Europe.
The new town centre will be located alongside Tully Park, which is currently under construction, and will be equivalent in size to St Stephen’s Green. There will be two underground car parks, 2,600 bicycle parking spaces and more than 150 charging points for electric vehicles.
Hines estimates it will take about three years to develop the new town, with the work likely to commence in the second quarter of 2018. More than 3,200 people are expected to reside there as well as 2,300 office staff.
Hines and other Cherrywood landowners have already begun the first phase of development, which involves the expenditure of €160 million on three new parks and 5.4km of roadways, footpaths, cycle lanes, greenways and the planting some 3,000 trees.