Pan-European property investor Eagle Street Partners has started construction of 702 apartments at Castleforbes Business Park in Dublin’s north docklands.
Catering for the private rental and social and affordable housing markets, the development will, upon completion, comprise 508 studios and one-bed units, 179 two-bed apartments and 15 three-bed apartments distributed across eight blocks with an 18-storey residential tower as its centrepiece.
It will also include community and public amenity space and an adjacent hospitality offering.
Eagle Street Partners is delivering the docklands development in a joint venture with Nuveen Real Estate, one of the world’s largest investment managers with $152 billion in assets under management, and the Australian superannuation fund Hesta.
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Nuveen is acting as investment adviser to the joint venture while Eagle Street will act as developer and operator of the 702 rental apartments, under its resident space operating platform.
The residential block is being built by John Paul Construction and financed by Apollo Global Management. The first phase of the scheme is expected to reach practical completion in the third quarter of 2025.
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Commenting on the development, Alisha Chauhan, director with Nuveen’s European Housing division said: “The start of works at the Castleforbes site is an important milestone for the development.”
Shane Scully, chief executive and co-founder of Eagle Street, added: “We are extremely excited to start development of the Castleforbes site to deliver much-needed housing in a key city centre location.”
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