A new €150 million residential development close to Cork city centre that will incorporate the tallest building in Ireland has been welcomed as a catalyst for further regeneration of the city.
Cork city manager Joe Gavin said the Elysian development by O'Flynn Construction, on the former An Post site at Eglinton Street, represented the largest residential development in the city centre to date, with more than 200 spacious apartments.
"It's a significant development and what's interesting is that there were no third-party objections. We had a lot of pre-planning discussions with the developer and we are happy with the final proposals and we believe the design for the tower block is attractive,"he said.
The development on the three-acre site will be bordered by Albert Street, Old Station Road and Eglinton Street, and will be close to Cork City Hall.
It will incorporate a 17-storey tower block, which will rise some 71 metres high and become a landmark building in the city.
The tallest building in Ireland is currently Cork County Hall, which is 65 metres high, but this will be exceeded by the O'Flynn Construction project. However, Dublin City Council has granted planning for a 32-storey, 117-metre high building near Heuston Station.
O'Flynn Construction acquired the Cork site from An Post in 2003 for more than €15 million. Work commenced with the demolition of the existing structures and the excavation of a double basement car park. The entire project is expected to be completed by mid-2008.
According to an O'Flynn Construction spokesman, the development includes a mixed commercial streetscape development incorporating a retail/restaurant element and offices, with all retail units located on the ground floor.
The development, which is designed by Wilson Architecture, will include a creche, gym and some 553 underground car-parking spaces for residents.
The apartments come in one, two or three-bedroom choices, ranging in size from 600sq ft up to 2,400sq ft for penthouses. While no prices have been revealed for the apartments, selling agent Sherry FitzGerald is confident the units will sell well.
"This is a unique, upmarket development and beautiful living environment with all the advantages of a city-centre setting," said Trish Stokes of Sherry FitzGerald, adding that all apartments will have lift access to the basements and a concierge service will be provided.
