LDA agrees to buy what will be Ireland’s tallest building
The Land Development Agency (LDA) has purchased a major residential development on Parkgate Street in Dublin from Castlethorn. The project will feature Ireland's tallest building and is part of a broader effort to increase housing supply in the state.
Why it matters
This deal represents a significant state-led intervention in the Irish housing market to address supply shortages and urban regeneration.
The Land Development Agency (LDA) has struck a deal to acquire what will be the tallest building in Ireland from Joe O’Reilly’s development firm Castlethorn .
The State’s affordable housing developer, led by John Coleman, has agreed a deal to buy 562 homes in the new apartment project on Parkgate Street in Dublin, which is due to be completed in 2029.
John Paul Construction will act as lead contractor on development. The agency would not comment on the financial aspect of the deal. The apartments are expected to cost close to €220 million to build.
Some construction work has already begun on the site, located beside Heuston Station, which will include a 30-storey, 102-metre residential building.
The 30-storey block will be taller than the 85m-high Obel Tower in Belfast and the in-development 85.53m Railyard building in Cork. It will include 198 apartments.
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