Re: Re: One Berkley court -132m Tower
If we are to debate this then what we require is at least some honesty about the real matter at stake. Donâ€™t be fooled by those who take the high moral design ground supporting this development, speaking of its being a signature 21st century project putting Dublin on the international architecture map and freeing us from the shackles of Buck Mulligan even if they are some journeyed washed up hack like Kevin Myers. This is ALL ABOUT THE MONEY .
Sean Dunne paid 54million per acre, 275 million for Jurys and 100+ for the Berkley topping out around 370million, so even if he had 20million cash, they rest came in the form of a loan, last time I checked loans had interest attached, so say 350 million in a loan, at 5% since 2005 , he is now in hock for closer to 385 million, then factor in the 1billion building costs, so we are looking at close on 1.4 billion project costs, Celtic Tiger or not thatâ€™s a lot of apples. His own project manager has more or less come out and stated this , the building needs to be 37 storey with inordinately high density for the developer to see a return on the ridiculous price paid for the land. Its Paddy and Patricia publics fault he owes so much cos we made him pay so much. I heard her talking on the news last week and she almost made me feel so bad about it I was going to have a whip around and start a special Sean Dunne STD fund, Save The Developer.
Course at this point its not really his problem, it becomes his financierâ€™s problem, they have now become as keen to get this pushed through as the developer himself , I wonder which Irish bank is sweating over this. Then you have to consider some other planning applications either in the process or already refused by uber-developers and Irish business magnates in the Ballsbridge area who looked to demolish or significantly extend properties they purchased for exhorbitant prices. Even a multi-millionaire feels the pinch some times. So Im sure the machinations of Irish cronyism will come into play, probably not in the public eye, I predict the Backik tribunal in 2014 will reveal all.
So while Archiseek Ireland is obfused by the smoke screen that is the visual of this development and we all have a warm cosy feeling becasue we talk about the glass, angles, facades and some plonker even spoke of it in terms of vital,exciting living architecture, its got sweet f.a to do with that, its about 1.4 billion in wants to get 1.4 billion plus out ! …