AN IRISH REAL estate capital company has lodged a plan that would rejuvenate the heart of Phibsboro on Dublin’s northside.
The €50 million plan focuses on the redevelopment and refurbishment of Phibsboro Shopping Centre.
MM Capital today announced that it has lodged a planning application with Dublin City Council for the redevelopment of the iconic 2.8 acre. They say that 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.
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 and the existing Tesco store, off licence and Eddie Rocket’s are excluded from the proposals.
Subject to planning permission being granted, the Phibsboro Shopping Centre development will incorporate a new civic plaza, facilitating a potential new entranceway to a redeveloped Dalymount Park, nearly 3,000 square metres of new retail space, upgrading of the existing 1,667 square metres of the existing retail units, upgrading and redevelopment of over 3,700 square metres of existing office space and the provision of nearly 1,400 square metres of new commercial office for new tenants.
Peter Leonard, Managing Director, MM Capital said:
“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.”
The student accommodation would also see a new cycle route created between the North Circular Road and Connaught Street.