|Address:||Clanwilliam Court, 1st Floor, Block 2, House,, Clanwilliam Pl, Dublin 2|
The US-based Hines group has entered into a joint venture with Dutch pension investor APG Asset Management to develop and retain a substantial number of apartments and ancillary retail facilities at Cherrywood in south Dublin.
In an important breakthrough for the 400-acre Cherrywood project, Hines is to co-invest alongside APG in the joint venture that will fund both the sites and the construction of 1,221 fully serviced “build-to-rent” apartments, along with street-level shops and cafes in the new town centre. Development costs for this phase will be €450 million.
Cherrywood has been granted strategic development zoning for the planned new town in the borough of Dún Laoghaire-Rathdown. It will have more than 7,700 new homes, six schools, three parks and leisure facilities. The availability of a light rail system will help bring the planned population up to 25,000.
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