US-headquartered real estate group, Hines, and its Dutch joint venture partners, APG Asset Management, have “capped off” the first of several apartment blocks they intend to develop at Cherrywood in south Dublin.
The building, which is expected to be ready for occupation by tenants by the second quarter of 2021, comprises 421 units. A total of 1,326 apartments, aimed mainly at the private rented sector, are due to come on stream at Cherrywood over the next three years.
Commenting on the progress being made at the south Dublin scheme, Hines senior managing director, Brian Moran, said: “We are delighted to mark this first major capping off having made strong progress over the last 18 months. The building is very much taking shape with some of the high quality design features already evident such as large bright courtyards, sizable building entrances and full floor-to-ceiling windows with added height in all our units.”
Hines managing director Gary Corrigan added: “Notwithstanding the changed economic backdrop, the demand for quality residential housing remains high throughout Dublin, and Cherrywood will make a significant contribution in that regard over the coming years. We are firmly back on track post-Covid and now expect to see our first new units coming on stream by the second quarter of next year. We are working with our contractor Sisk in delivering the first new residential phase for the new town of Cherrywood, 10 per cent of which will be social housing in line with statutory requirements .”
Upon completion, the Cherrywood scheme will comprise over 7,700 new homes, six schools, three public parks and leisure facilities, with four Luas stops serving an eventual planned population of 25,000 people.