The announcement was made by the Minister for Housing, Planning, Community & Local Government, Simon Coveney TD, and the Minister for Public Expenditure and Reform, Paschal Donohoe TD, during a visit to the site on Wednesday, 07 December.
The funding will allow for the first phase of a mixed-tenure development which has been the subject of discussions between the Minister and councillors to secure 30% social, 20% affordable and 50% private development of these lands of approximately 600 homes altogether.
O'Devaney Gardens is the first phase of the project, which will include further development of the site, consisting of a further 54 social units, along with a mix of private and affordable units which is an integral part of the scheme in order to ensure a sustainable and vibrant community.
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Speaking at the site, Minister Coveney said: "I am pleased to approve the first phase of the regeneration of O'Devaney Gardens. This will kick-start the regeneration of this area. I am keen to see the development of this large site in the centre of Dublin City. There is considerable potential to develop up to 600 homes on the site, of which up to 50% could be social and/or affordable units. I am anxious for the City Council to progress this project at speed so we can re-energise this area.
"Under Rebuilding Ireland we have a particular emphasis on achieving a mix of private and social housing so we don't make the same mistakes as we did in the past with mono-tenure housing schemes. The overall plan for this site will help us to achieve this."
Minister Donohoe added: "As a T.D. for Dublin Central, I know O'Devaney well. The economic collapse, which delayed the regeneration of this and other PPP projects for a number of years means O'Devaney Gardens, and its residents, have suffered a number of set-backs and seen a few false dawns down through the years. This Government has prioritised housing as the number one issue to be dealt with."
(MH/LM)
