The Dublin City Council has selected Bartra Capital Property Group (Bartra) as the preferred bidder for the development of a co-living facility in Dun Laoghaire at O'Devaney Gardens.
The development includes 825 units with a total estimated cost of EUR300 million (US$331.095 million). There will be 411 units that will be put on the market for private sale, including 119 one-bed, 274 two-bed, and 18 three-bed apartments. The development will have 192 social units, including 11 three-bed houses, 64 one-bed apartments, 80 two-bed apartments, and 37 three-bed apartments.
The affordable units will be subjected to up to 40% discount with the price range for a three-bed apartment from EUR360,000 (US$397,315) to EUR420,000 (US$463,534) at the top end and a two-bed house at EUR270,000 (US$297,986) to EUR315,000 (US$347,650) at the bottom.
The City Council is yet to approve the transfer of land title to Bartra. The developer will be subjected to several restrictions including no shared accommodation, no student accommodation, and no studio apartments can be built at the site.