Dún Laoghaire-Rathdown County Council Rejects Greystar’s 488-Unit Build-to-Rent Scheme Amidst 70 Objections
In a recent decision by Dún Laoghaire-Rathdown County Council, US group Greystar’s proposed build-to-rent (BTR) scheme has been refused planning permission. The development, which would have consisted of 488 units, was set to be located near Dalguise House on Monkstown Road in South Dublin. However, after receiving over 70 objections, the council concluded that the scheme did not meet the criteria for approval.
Greystar, a renowned global leader in rental housing, had expressed their ambition for this development to be their flagship project in Ireland and set new standards for BTR developments in the country. The proposed scheme included the construction of ten blocks, one of which would have reached nine stories. It comprised 488 new-build units along with three two-storey, three-bedroom terraced units.
The council based its decision on various grounds. Firstly, it argued that the sheer number of BTR apartments, particularly the high proportion of one-bedroom units, would lead to an excessive concentration of such accommodations, hindering the creation of a sustainable mix of tenure housing. Additionally, the council noted that the proposed development’s height would visually overpower and have a detrimental impact on the protected structure of Dalguise House.
Furthermore, the council pointed out that the quality of bicycle parking fell short of the necessary standard to support the reduced car parking proposed for the scheme. They emphasized the need for adequate parking facilities to promote alternative modes of transportation.
A report by estate agent Hooke & MacDonald, which accompanied Greystar’s plans, highlighted the scarcity of rental properties in Monkstown. It revealed that in September of last year, there were only three available for rent, making the undersupply even more severe compared to other Dublin towns and suburbs. The estimated average monthly rent for the scheme’s two-bedroom apartments, accommodating four people, was projected to be €3,000, resulting in an annual cost of €36,000. Meanwhile, a two-bedroom apartment for three individuals was expected to command an annual rent of €34,200.
The decision by Dún Laoghaire-Rathdown County Council has been welcomed by local activist Nicola Coleman, who led a petition against the development, gathering over 1,200 signatures. Coleman praised the council’s ruling, viewing it as an affirmation of local democracy and adherence to the County Development Plan, which was democratically agreed upon. She echoed the concerns of the community, particularly focusing on environmental issues and the challenges associated with a corporate-driven BTR model of housing. The exorbitant rental prices further solidified her belief that the development would not address the housing needs of the community effectively.
This decision represents a significant setback for Greystar in their ambitions to establish their presence in the Irish rental market. Despite their global stature and intentions to set new standards, the refusal of planning permission highlights the need for careful consideration of environmental impact, housing affordability, and community concerns in such developments.
