This development is set to ease the student housings crisis - and it's in one of the capital's most sought after locations
Cork property developer Michael O’Flynn, backed by the North American firm Blackrock Real Estate, has bought a site jointly owned by NAMA and CIE and located close to the Three Arena on Dublin’s north Docks, that has planning permission for close to 950 student beds - according to The Irish Times.
It’s reported the sale price for the 2.3 acre site was more than €20m.
The new facility will comprise two seven-storey blocs with retail space at ground level
Michael O’ Flynn’s student accommodation company, Victoria Hall, which currently manages more than 7,000 beds in the student accommodation sector, will also manage the new facility.
It will features a mix of student clusters containing between 3 and 8 bed spaces, as well as twin and single study units. It will feature 866 sq.m. of commercial retail floor space and 462 sq.m. of community facility.
The site is immediately adjacent to the Point Luas station and the Gibson Hotel and is proximate to the 3Arena, Odeon Cinema and the Point Village Shopping Centre.