NAMA Transfers €68.5M Sites to LDA for Thousands of Homes
NAMA has transferred two large sites with potential for thousands of homes to the Land Development Agency (LDA). The move, worth €68.5 million, is part of NAMA's focus on maximizing site value and enabling future home construction. The sites, in Lissenhall and Celbridge, are expected to contribute significantly to the Exchequer.
The Lissenhall site, spanning 212 acres in north Co Dublin, can accommodate 3,000 to 3,500 homes. It also includes the proposed terminus for the Metrolink rail project. Meanwhile, the 86-acre Celbridge site in Co Kildare can host 850 to 1,000 homes. Both sites are currently used for agriculture and are zoned for residential development.
NAMA's chief executive, Brendan McDonagh, is driving this initiative to boost site value and facilitate future home construction. The total lifetime contribution to the Exchequer is projected to be €5.5 billion. A planning application for 344 new homes is already underway for the Celbridge site.
The transfer of these sites to the LDA keeps them in State ownership. John Coleman, LDA's chief executive, aims to utilize all resources to unlock land for affordable housing, with a strong pipeline in the Greater Dublin Area. These sites, with their combined capacity for up to 4,500 homes, are set to play a significant role in Ireland's housing landscape.
