High-end Limerick development with 167 apartments to cost €80m
A NEW high-quality residential development in one of the city’s most exclusive addresses will cost in the region of €80m to construct, it has been announced.
The plans encompass 167 apartments across five new buildings, ranging in height from three storey to five storey, at the landmark Ardhu site off the North Circular Road / Roses Avenue / Ennis Road.
Tribeca Holdings Limited, a London-based property group headed by Limerick native Aidan Brooks, has submitted a planning application for the new residential development on the six-acre site which has lain idle for over a decade.
As reported by the Limerick Leader/Limerick Live in September 2022, Conack Construction began material refurbishment of an existing seven-storey residential building - the former Clarion Suites. This refurbishment is now complete and these apartments are available on the rental market. It is understood there has been keen interest.
The new planning application, prepared by architects Henry J Lyons, maintains that high quality is “at the heart of the development so that the finished residential development blends in with the existing surrounding area”.
All proposed residential units will be build-to-rent with Tribeca Holdings maintaining a long-term ownership of the apartments. The residential units will range in size from one, two and three-bed / duplex options catering from single occupants to families.
The landmark Ardhu House, which is a protected structure, will be restored and will become the focal point of the development for residents. According to the planning application, Ardhu House will be redeveloped as an amenity building containing a reception, lounge area, co-working space, cinema and gym.
The proposed development will also cater to the local community with large landscaped gardens and a creche. A smaller version of the well-known Ardhú Bar will re-open to the public. Minister of State Niall Collins said the provision of new housing is hugely important to Limerick.
“It is a huge vote of confidence in Limerick that a local man who has made it on the global stage is investing locally in a development of this magnitude,” he said.
David Conway, CEO of Limerick Twenty Thirty, said they welcome and support the planning application. “This quality development on its six acre site will assist the residential market in Limerick and help enhance the offering to both foreign direct investment and indigenous companies working in the city,” said Mr Conway.
Limerick Chamber has placed a priority focus on advocating for increased provision of worker housing, said CEO Dee Corbett.
“It is heartening to see the announcement of this quality offering of homes coming to market at a highly-desirable location, within walking / cycling distance of places of work and study. It should give confidence to other developers to bring forward similar high-quality schemes and to investors who are in the process of considering Limerick as a location choice for operations or expansion of operations,” said Ms Corbett.