RFQ for €200m Irish housing development

A request for qualifications has been issued for a private partner to deliver over 1,000 mixed tenure residential units in Dublin.

Fingal County Council is seeking to identify an economic operator to design, construct and finance a mixed tenure residential development at Ballymastone in Donabate. The greenfield site has Major Urban Housing Delivery Sites (MUHDS) status under the Department of Housing, Planning, Community and Local Government’s Rebuilding Ireland housing plan.

The 35 hectares site is expected to deliver approximately 1,000 - 1,200 residential units, with the exact number and the phasing to be explored during the dialogue stage. The required tenure mix is as follows:

•20% Social Units, which will be sold to the contracting authority at cost
•20% Private Discounted Units
•60% private residential units. These may constitute build to rent or sell units.

Fingal is the freehold owner of the site and will not transfer the title to the social units.

Responses are due by 22 November, with questions due by 9 November. A shortlist is expected by 15 February 2019, with a development agreement by January 2020. The evaluation panel will include the National Development Finance Agency.

Fingal estimates that the value of the project will be in the region of €217m but may vary significantly depending on the outcome of the dialogue stage.

A market sounding process was carried out in August.

Advisors include EY, Byrne Wallace and Reddy Architecture & Urbanism.

Meanwhile, the Housing Finance Agency (HFA) is seeking bids to provide legal services by 16 November. The HFA was established in 1982, and its remit is to source and supply local authorities and the voluntary and co-operative housing sector with cost-efficient finance.

The Financing Irish Infrastructure 2018 conference takes place at The Westbury in Dublin on 21 November. For more information click here.