Ballymun plan gets approval
Real Estate Opportunities (REO) said today it had secured full planning permission for the €800 million regeneration of Ballymun Town Centre in north Dublin close to the airport. At 255,000 square, Spring Cross, as the new development will be known, is reputed to be the largest mixed use town centre permission that has ever been granted in Ireland.
The scheme includes 360 apartments, 60,000 square meteres of retail, 35,000 square metres of offices and 11,000 square metres of other uses including an 11 screen cinema, bowling alley, public library, creche and restaurants.
“This important achievement demonstrates the quality of both REO’s development portfolio and the ability of its management to create value. This project is a flagship in the company’s Irish portfolio and we are confident we can commence construction in 2010,” said Real Estate Opportunities’ chairman Ray Horney.
REO, which is 67 per cent owned by Treasury Holdings, said the project said that about 2,000 jobs will be generated during the construction period. It is expected that 8,500 direct and indirect jobs will be created once the scheme is completed in 2012.