€56.4M Funding Secures Planning Permission for 189 Dublin Social Homes
Maslow Capital has committed €56.4 million in development financing to unlock a significant housing scheme on Dublin’s James’s Street, delivering nearly 200 social homes in a landmark urban regeneration project.
The financing facility supports construction of 189 apartments across three residential blocks at the former Steelworks Site in Dublin 8. An Bord Pleanála granted planning permission for the development, which will replace existing industrial structures and surface carpark facilities. The approved scheme transforms a 0.56-hectare brownfield location into mixed-tenure residential accommodation, addressing Dublin’s acute housing shortage through both social and private rental pathways.
The housing scheme approval encompasses one-, two-, and three-bedroom units distributed across buildings ranging from three to eight storeys. Residents will access shared amenities including communal lounges, multi-functional spaces, landscaped courtyards, and rooftop terraces. The development incorporates 257 bicycle parking spaces and four car spaces, prioritising sustainable transport connectivity. With a total floor area of 15,839 square metres, the scheme demonstrates efficient land utilisation on a constrained urban site.
Planning permission granted by Dublin City Council (An Bord Pleanála reference ABPREF308871) reflects the project’s alignment with national housing policy and local development frameworks. The material contravention assessment confirmed the scheme’s compatibility with surrounding uses and city centre intensification objectives. Environmental impact considerations informed design decisions, including site remediation protocols for the former industrial land and stormwater management provisions integrated throughout the masterplan.
Maslow Capital’s involvement underscores growing institutional confidence in Irish residential development. The pan-European real estate finance provider has funded over €10 billion in property projects across multiple jurisdictions. In Ireland specifically, the company has accelerated its commitment, recently completing a €37 million facility for a 112-unit residential scheme in Portlaoise and providing €6 million in bridging finance for social housing land acquisition. The Dublin office expansion announced in May 2025 reflects this strategic expansion, with senior hires bolstering deal origination and project management capacity.
The James’s Street development exemplifies how institutional capital addresses supply-side constraints in Ireland’s housing market. By financing construction timelines and enabling developer cash flow, Maslow Capital facilitates faster delivery of completed units. The €56.4 million commitment will fund labour, materials, and professional services across the anticipated 24–30 month construction programme, supporting skilled employment in the building trades and related sectors.
Location advantages enhance the scheme’s viability and tenant appeal. James’s Street benefits from proximity to St. James’s Gate, Dublin’s historic brewery district, and strong public transport links via Luas and bus corridors. The catchment includes established residential neighbourhoods, cultural attractions, and emerging employment clusters, positioning residents within Dublin’s economic core. Infrastructure capacity assessments confirmed adequate water, wastewater, and electrical supply for the additional 189 households.
The housing scheme represents collaborative achievement between public planning authorities, the development sector, and institutional financiers. An Bord Pleanála’s decision validated the scheme’s planning merit following statutory consultations with utilities, drainage authorities, and local stakeholders. Dublin City Council’s development management team processed applications in accordance with the City Development Plan 2022–2028, which prioritises housing delivery and brownfield regeneration within the inner city.
Maslow Capital’s backing positions the project for construction commencement within 12–18 months. Facility drawdown tranches align with development milestones—site acquisition, ground works, structural completion, and final fit-out—enabling staged capital deployment and risk management. The financing structure includes developer equity contribution and potential housing finance partnership with social housing authorities, reducing funding concentration and improving long-term affordability.
This development contributes measurably to Dublin’s housing pipeline. With An Bord Pleanála decision confirmed and institutional financing secured, 189 new homes transition from planning concept to delivery reality. The scheme demonstrates that strategic capital allocation, supportive regulatory environment, and brownfield opportunity identification can accelerate housing supply in constrained metropolitan markets.
Originally reported in News By Wire on Tue, 18 Nov 2025 10:29:38 +0000. Full story
