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Some Bottle: Anger over Ringsend site CONTROVERSY has erupted over a plan to build 3,500 homes with one million square feet of commercial space, as well as a school and a park on the former Irish Glass Bottle site in Ringsend. A consortium lead by developer Johnny Ronan’s real estate group and Colony Capital has been selected as the preferred bidder to acquire an 80% shareholding. The National Asset Management Agency (NAMA) will retain a 20% shareholding in the venture which extends to 37 acres on the Poolbeg Peninsula. The site benefits from fast-track planning following
approval by An Bord Pleanála. However, the Irish Glass Bottle Housing Action Group has expressed “significant fear of the consequences of this development in the community”. There is a strong and resilient community in Ringsend/ Irishtown, but we are fearful for the future of the community. It is nearly impossible for local people to afford housing in their area,” a spokesperson said. “The announcement is an important milestone in our strategy for this key site. The competitive process adopted was designed to achieve best financial return in line with the requirements of the NAMA Act
and facilitate delivery of muchneeded housing for the Dublin market in time,” NAMA Chief Brendan McDonagh said. The Ronan Group is believed to have bid “substantially more” than NAMA’s €125m guide price, according to sources, and beat three other bidders on the shortlist to gain the 80pc stake. The other contenders were US private equity house Lone Star, the Hines property group and Sean Mulryan’s Ballymore. Commenting on the news, Sinn Féin Dublin City Councillor Daniel Céitinn said it was “a local, regional and national scandal” that NAMA was disposing of the site in this way.
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Minister for Climate Action Eamon Ryan TD, Hildegarde Naughton TD, and CEO of the National Transport Authority Anne Graham at oublication of the NTA’s ‘Bike Life’ survey. See page 18. Pic: Maxwells