A planning application has been launched with Dublin City Council for the redevelopment and refurbishment of Phibsborough Shopping Centre.
The application was made by MM Capital, an Irish real estate investment and development firm. The site comprises 2.8 acres with the proposal representing a €50 million investment.
The target is to complete the proposals over a 24-month timeframe including the upgrading and redevelopment of existing retail space and the provision of additional retail and commercial office space along with a civic plaza for the local community. The plans will provide for a 340-bed student accommodation on the site.
The overall site to be developed comprises an open strip mall of ground floor retail units, the former Tram Depot comprising mainly single-storey warehouse building and the Tramway End, the former east terrace of Dalymount Stadium.
The existing office building will be upgraded and refurbished as part of the development works. The existing Tesco Supermarket, Off License and Eddie Rockets are excluded from the proposals.
Subject to planning permission being granted, the Phibsborough Shopping Centre development will incorporate a new civic plaza for the local community, facilitating a potential new entrance-way to a redeveloped Dalymount Park, nearly 3,000 m2 of new retail space, upgrading of the existing 1,667 m2 of the existing retail offering, upgrading and redevelopment of over 3,700 m2 of existing office space and the provision of nearly 1,400 m2 of new commercial office for new tenants.
A major 340-bed student accommodation building operated by CRM Students forms part of the proposal.
The student accommodation element of the development is expected to open for the start of the 2019 academic term and will cater for an increasing number of third level institutions in the local area, including the DIT Grangegorman Campus and Dublin City University.
A new cycle route is proposed as part of future provision to connect the North Circular Road and Connaught Street subject to agreement with the future Dalymount Park Redevelopment design.
Managing Director at MM Capital, Peter Leonard says, "The development plans for Phibsborough Shopping Centre will create a vibrant public space and civic plaza for the local community and represent a unique opportunity to regenerate this centrally located site, contributing to the regeneration of the wider Phibsborough area."
He added, "The development will revitalise the retail and commercial offering. We have worked closely and listened to the needs of the local community, and believe we have a high-quality design and a totally committed team to deliver our vision for Phibsborough."
Source: www.businessworld.ie
