‘Chronic’ need for city apartments
There’s no future in building apartments unless they become more affordable to construct amid a “pressing” need for them in the city centre.
John Cleary of the JCD Group has warned that there needs to be proper conversations about city centre residential schemes.
He told the Cork Independent: “Unless an effort is made to make apartment construction more affordable, the market will resort to developments away from the city centre. Such an outcome is worse for the environment as it would result in more traffic and more commuting.
“Equally, a younger, more mobile workforce will want to live within walking distance of where they work. There is a chronic and pressing need for city centre residential schemes, and we need to work together to achieve that desired outcome.”
His words came as the JCD Group begins another busy year with several projects on the go.
However, he cautioned against describing the increased levels of construction across Cork as a building boom: “While construction levels have reached an improved level, it would be unfair to characterise it as a building boom. What we are witnessing is more like the normalisation of activity that will and can be sustained as Cork continues to grow and attract record levels of inward investment particularly in the context of Project 2040 for the city.”
Mr Cleary said that the company has seen positive progress on its landmark projects around Cork.
Construction is well advanced on 250,000 square foot of office space at Penrose Dock with several key tenants already committed, including Grant Thornton.
JCD has also formally lodged a planning application with An Bord Pleanála to construct a large-scale residential build to rent scheme on Albert Quay in response to the shortage of quality rental accommodation in the city.
And on top of an initial investment of ten million euro in Blarney Business Park since 2018, it is investing a further €10 million on phases three and four. Mr Cleary described the park as a “strategically important site”.
He said about other future projects: “The Penrose Dock development forms a key part of the evolution of Cork’s Docklands into a thriving new economic district centred around the train and bus stations. In particular the north quays located at the eastern entrance to the city will be the cornerstone of a rejuvenated area, as it brings balance and adds momentum to the progress made in recent years on the south quays, with One Albert Quay and Navigation Square.”
He added: “The buildings will be occupied from the summer. In particular, we look forward to sharing the views from the roof terrace at Penrose Dock, where attendees of meetings will enjoy a never-before-seen angle of a changing city.
“We look forward to the completion of Penrose Dock, and for work to start on site with the residential development at Albert Quay should a successful planning permission be received,” he concluded.