The 210-bed student housing complex, formerly the Montrose Hotel, is owned by private student housing company Aparto.
The building is expected to remain closed for the full academic year to allow for the extent of remedial works required, according to the Irish Times.
Those who had reserved places in the complex for the coming academic year were told in a letter from the company it had no option but to “immediately” suspend use of the building, meaning they “will not be able to move in to Montrose as expected".
Alternative accomodation
Aparto said it had arranged for all those booked for the coming academic year to be offered alternative accommodation in the city centre, with a full refund another alternative.
Three other Aparto buildings are located in Dublin city centre, with Binary Hub on Thomas Street on the southside, and Dorset Point on Dorset Street and Beckett House in Summerhill on the northside.
The company has offered to pay for an annual Leap bus pass or a €1,000 voucher towards a bike or scooter for those who transfer their license agreement to another Aparto building, due to their distance from the UCD campus.
The fire safety problems emerged during recent renovation works to the outside of the 1960s Montrose building, according to the Irish Times.
In a statement on Monday, the company said: “Aparto has apologised unreservedly to all those impacted by this decision while reiterating that the safety of residents and staff is a top priority.”