A Dublin local authority has moved to prevent institutional investors bulk-buying houses and duplex units from a large new residential development in west Dublin.
This follows South Dublin County Council granting planning permission to Glenveagh Homes to construct 376 new homes at Citywest.
The Large-Scale Residential Development (LRD) Citywest Brownsbarn scheme did not attract a single objection.
In a bid to prevent an institutional investor bulk-buying the houses, the council has included a condition under the heading of ‘Regulation of Institutional Investment in Housing’.
As part of the condition, the council is requiring that the first occupation of all houses and duplex units be done by individual purchasers.
The condition does not apply to apartments in the scheme.
The council states that the aim of the condition is to ensure an adequate choice and supply of housing, including affordable housing, in the common good.
Glenveagh initially lodged plans to construct 384 units made up of 122 houses, 84 duplex units and 178 apartments in four blocks ranging from five to seven storeys for the site.
The LRD is located south of Citywest Avenue and west of Cheeverstown Park and Ride, Brownsbarn Dublin 24.
The council granted planning permission and has ordered the omission of eight units from the scheme after concluding that the proposal “will assist in providing an appropriate density of development on lands well served by high quality public transport, and proximate to local services and amenities”.
Underlining the scale of the development, the local authority has ordered Glenveagh Homes to pay €3.87 million in planning contributions towards the provision of public infrastructure in one of 35 conditions attached to the permission.
Glenveagh had proposed providing 77 units of the overall development to social and affordable housing and that total will be reduced slightly to 75 following the council decision to omit eight of the homes.
Glenveagh had put a price tag of €19.1 million on the 77 homes and the builder and the council can now enter negotiations on a final price for the homes.
Planning consultants for Glenveagh Homes, McCutcheon Halley contended that the proposed development "will provide for efficient use of this undeveloped site".
The consultants also stated that the proposed design provides for good quality residential apartments, duplexes and houses including private and communal amenity spaces that strive to meet the recommended standards.
The planning statement also contended that the proposal contributes towards the pressing need for increased housing supply and housing choice along Citywest Avenue and within South County Dublin.
