Construction has begun on a residential scheme set to deliver 122 apartments in Dundrum.
A joint venture by Dundrum Town Centre owners Hammerson and Allianz Real Estate, the project titled “The Ironworks” is located on the Sandyford Road entrance of the Dundrum Estate.
The apartments will be professionally managed on a long-term rental basis, with 107 of these to be located within The Ironworks – consisting of one studio, 50 one-beds and 56 two-beds.
A further 15 one-bed apartments will be built within Dundrum Town Centre.
On top of the over 100 “sustainably-built homes”, the development will also include a co-working space, a residents’ lounge, a gym, a panoramic terrace and a new coffee shop.
The building will have solar photovoltaics and a green roof.
As part of Hammerson’s first Irish residential-led scheme, all homes will be designed to optimise light and heat recovery ventilation.
Social housing will also be “fully integrated” into the plan with the development set to be completed by 2025.
“Working with our chosen construction partner, Glenbeigh Construction Limited, and other skilled Irish design and operational partners, our vision is to create a sustainable residential development for the local community,” said Connor Owens, Ireland’s Managing Director Asset Management in Hammerson.
“The Ironworks will foster a vibrant community attuned to the heritage and culture of the area.
“We hope this will be a benchmark for residential-led developments for generations to come.”
Nicole Hötsch, Head of Investments & Strategic Development for North & Central Europe at Allianz Real Estate, said they are excited to bring “much-needed residential stock” to the Dublin market.
“The residential sector is one of the most prominent, institutional, stable asset classes benefitting from long-term trends which have created an urgent demand for housing in most cities around the world.”
Jointly owning Dundrum Town Centre with Allianz, Hammerson also owns Dublin’s Ilac Centre and Sword Pavillions with Irish Life.