Global real estate developer and investor Kajima and its joint-venture partner Bartra have secured a “green-finance” loan from AIB to fund the development of a 258-unit build-to-rent apartment scheme at Belmayne in north Dublin. With funding now in place, Kajima and Bartra have appointed John Sisk & Son as design-and-build contractor for the €100 million project, with work to start shortly.
Upon completion in 2025, O’Neill Court will comprise a mix of one-, two- and three-bed apartments, along with more than 500sq m (5,382sq ft) of residential amenities, including a gym, media room, workstations, parcel reception, concierge and relaxation area. The scheme has been designed to achieve LEED Gold standard in sustainability (Leadership in Energy and Environmental Design, US Building Council). As part of the plans and working with an approved housing body, 50 apartments will be made available for social housing with the remaining 208 units set aside for private rental.
Designed by McCrossan O’Rourke Manning Architects, the scheme consists of three buildings, up to seven storeys. These will surround landscaped green spaces for residents and play areas for children. The gardens will sit above accessible parking including 400 bicycle parking spaces, with all car parking spaces being electric-vehicle parking compatible.
Commenting on AIB’s decision to provide funding for the development, Dwayne McAleer, managing director at Kajima Ireland, said: “Building on the purchase of the site last year, Kajima has continued its investment in bringing this fantastic project to construction, with EU green loan debt financing now secured from AIB in challenging times.”
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Bartra CEO Mike Flannery said: “This is a significant milestone in our partnership with Kajima. Social and environmental sustainability is at the forefront of everything we do. We are delighted that our experience in delivering large-scale residential schemes will be used to complete O’Neill Court. All homes will be delivered to LEED Gold specification, helping residents to reduce their energy consumption and carbon emissions, thereby lowering utility bills each month.”
