PHIBSBOROUGH SHOPPING CENTRE MAY BE REDEVELOPED AS A CO-LIVING COMPLEX
This shopping centre was 50 years old in 2019 and the eight storey tower block with was an afterthought. The original plan was for shops only.
The owners of Dublin’s Phibsborough shopping centre are seeking to redevelop the 1960s complex, long regarded as an eyesore, as a “co-living” scheme rather than the student accommodation for which they have planning permission.
PRESS RELEASE FROM MM CAPITAL RE PHIBSBOROUGH SHOPPING CENTRE – APRIL 2017
Wednesday, 5th April 2017: MM Capital, an Irish real estate investment and development firm has announced it has lodged a planning application with Dublin City Council for the redevelopment and refurbishment of Phibsborough Shopping Centre. The site comprises 2.8 acres, with the proposal representing a €50 million investment. The target is to complete the proposals over a 24-month timeframe, including the upgrading and redevelopment of existing retail space and the provision of additional retail and commercial office space, along with a civic plaza for the local community. The plans will provide for a 340-bed student accommodation on the site.
The overall site to be developed comprises an open strip mall of ground floor retail units, the former Tram Depot comprising mainly single-storey warehouse building, and the Tramway End, the former east terrace of Dalymount Stadium.
The existing office building will be upgraded and refurbished as part of the development works. The existing Tesco Supermarket, Off License and Eddie Rockets are excluded from the proposals.
The application and proposed development complies with the un-adopted 2015 draft Phibsborough Local Area Plan, and current City Development Plan.
Subject to planning permission being granted, the Phibsborough Shopping Centre development will incorporate a new civic plaza for the local community, facilitating a potential new entrance-way to a redeveloped Dalymount Park, nearly 3,000 m2 of new retail space, upgrading of the existing 1,667 m2 of the existing retail offering, upgrading and redevelopment of over 3,700 m2 of existing office space and the provision of nearly 1,400 m2 of new commercial office for new tenants.
A major 340-bed student accommodation building, with best in class design and operated by CRM Students forms part of the proposal.
The appointed design and project management team includes Architects Donnelly Turpin, Brady Shipman Martin as planners, JJ Campbell structural engineers, METEC as mechanical and electrical engineers, NRB Consulting Engineers are handling road engineering and quantity surveying for the project will be delivered by Kelly O’Callaghan.
MM Capital acquired the site with the support of AIB Real Estate Finance.
Commenting on today’s announcement, Peter Leonard, Managing Director, MM Capital, “The development plans for Phibsborough Shopping Centre will create a vibrant public space and civic plaza for the local community and represent a unique opportunity to regenerate this centrally located site, contributing to the regeneration of the wider Phibsborough area. The development will revitalise the retail and commercial offering. We have worked closely and listened to the needs of the local community, and believe we have a high-quality design and a totally committed team to deliver our vision for Phibsborough”.
The student accommodation element of the development is expected to open for the start of the 2019 academic term and will cater for an increasing number of third level institutions in the local area, including the DIT Grangegorman Campus and Dublin City University. A new cycle route is proposed as part of future provision to connect the North Circular Road and Connaught Street subject to agreement with the future Dalymount Park Redevelopment design.
The site is Zoned Z4 under the Dublin City Development Plan 2016-2022. The objective of which the Plan states is to, ‘protect and improve mixed service facilities’ and is designated a Key District Centre, the top tier of urban centres outside Dublin City Centre. “