A Spencer Dock development which provides for nearly 1,000 luxury apartments, including social and affordable housing, has been given the final go-ahead by the Dublin Docklands Development Authority.
The site is part of the largest and most ambitious urban development in the State's history.
The developers, a consortium headed by Treasury Holdings, this week received the certificate from the docklands authority enabling them to start work immediately on the development estimated to cost around €400 million. The plans provide for 947 luxury apartments, underground parking, retail units, pedestrian walkways and some office accommodation.
Social and affordable housing accounts for 21.5 per cent of the apartments, which is slightly above the required 20 per cent in the original master plan.
There are 99 apartments allocated for affordable housing which are for sale through shared ownership with the local authority so the occupier buys part and rents part.
A total of 106 apartments are provided for social housing which tenants rent from a housing association.
The chief executive of the docklands authority, Mr Peter Coyne, yesterday told The Irish Times: "We're delighted with this as a housing site and with the social and affordable housing at over 20 per cent, we have the best and most appropriate level of integration."
Mr Coyne said the community would also be provided with a crèche which was near the social housing. "There is a good provision of three-bedroom apartments as we want to encourage families into the area. The social housing will not be any different from the other and will be indistinguishable from the luxury apartments."
The site provides for a Luas line and the railway order should be finalised within the next few months, he said.
There was also room on the plans for an underground link-up.
Head of Treasury Holdings design and marketing team Mr Robert Tinknell said the apartments would be at varying heights from between five and 10 storeys.
He said initial preparations on site would begin immediately. The development of the site, which is under 10 acres, is expected to take over two years.
In November, deposits were taken on over 500 apartments.
The site lies between the IFSC and land towards the Point Depot on the north side of the Liffey. The authority issued the certificate under section 25 of the Dublin Docklands Authority Act, 1997, which allows a planning proposal for the area to be exempt from the requirement to obtain planning permission.