Dublin City Council welcomes the news that An Bord Pleanála’s has approved the North Lotts and Grand Canal Dock Planning Scheme.
This approval will facilitate fast-track planning for the Docklands Strategic Development Zone (SDZ), which is of significant economic and social importance to the city and state, keeping the focus on the social and economic regeneration of the Docklands.
The Lord Mayor of Dublin, Oisín Quinn welcomed the news that the Docklands SDZ plan has been approved by An Bord Pleanala“There is an urgent need for new offices in the city centre. The Docklands area is highly attractive to international investors so the approval of the planning scheme should now lead to construction of new commercial developments. The plan also prioritises residential development. The existing apartments in the Docklands are proving very popular and the SDZ scheme provides for 50% of the new development to be residential. This is also very welcome. Good quality apartments close to the city centre is vital for Dublin to grow sustainably. Our research shows that 80% of people who live in the city centre cycle or walk to work, so more residential development in Docklands will be important for Dublin.”
However, the Lord Mayor also warned that “Many of the sites are controlled by NAMA appointed receivers so I welcome the indications from NAMA that they will play a pro-active role in entering joint ventures and releasing sites for development. It is key however, that the government proceeds to legislate for the vacant sites levy recommended by my Taskforce as, in a rising market, we must do everything we can to discourage the short term investor who may seek to mothball sites in the expectation of flipping them on in a few years at a profit.”
The remaining sites available for development in theNorth Lotts and Grand Canal Schemes equate to circa 22 Hectares, an area roughly equivalent in scale to the entire Custom House Docks / IFSC Area). Crucially, the IFSC area alone has already generated an employment capacity of almost 24,000 persons at the end of 2010. This demonstrates the significance of the area in terms of job creation, foreign direct investment and the economic potential of the remaining lands available at Spencer Dock North andGrand Canal.
Under the SDZ, the floorspace to be delivered amounts to almost 2,600 residential units and almost 305,000 – 366,000 square metres of commercial floorspace. This potential would deliver an additional residential population of almost 5,800 and employment of almost 23,000 people.
The approved scheme has been set up to provide for both a wide range of employment needs and also to provide for a variety of much needed residential accommodation for the City.