Dublin City Council officials are backing a rezoning plan for valuable Ballsbridge sites that could pave the way for high-rise buildings and benefit a number of developers.
A report sent out by assistant city manager Michael Stubbs to councillors ahead of a meeting that will discuss the issue on June 11th backs the rezoning of sites to allow "mixed-use development of which office, retail and residential would be the dominant uses".
Offices dominate the area, which also contains some exclusive residential districts. A move to mixed use would open the door to high-density apartment blocks and, potentially, high-rise buildings in the area. Some sources suggest that Ballsbridge could end up with towers of 16-20 storeys as a result.
This would benefit developers who have paid high prices for land in Ballsbridge, partly in the expectation that the local authority would give the green light to high-rise and high-density buildings in the prestigious suburb.
Among the developers who will benefit are Sean Dunne of Mountbrook Homes, who paid €260 million for Jurys Hotel and Towers site and a further €119 million for the Berkeley Court in Ballsbridge in late 2005.
The price per acre for those deals came to over €50 million, a record at the time. However, Ray Grehan of Glenkerrin Homes beat that when he paid the State €84 million an acre, a total of €171.5 million, for the adjacent Veterinary College site.
Another big player who will benefit is Bernard McNamara, one of the best-known builders in the State. Others include David Courtney and Gerry O'Reilly, who paid €98 million for a Ballsbridge site and David Daly.
One source said yesterday that the city management's proposal would be "very significant" from the developers' point of view. Another said it indicated that the local authority's executives were "moving in the developers' direction".
Mr Dunne has already produced a proposal that includes a 32-storey tower.
While city management are said to support the plan, residents and local councillors oppose it.
During the election campaign, a meeting of the council's southeast area committee shot down a draft local plan allowing for high-density mixed-use development.
Mr Stubbs's report states that places which "support a mix of uses" serve a cross-section of the community "including residents and workers, young and old, families and single people".
It adds that this brings activity into the evening and a greater sense of security.
The report favours high-density development. It argues that a mix of housing, offices and shops will complement each other, boosting activity and employment in the area.
