Global real estate investment company Kennedy Wilson (NYSE:KW) and its equity partner have made a significant further commitment to its Irish multifamily business announcing two new major construction contracts at Coopers Cross and the Grange in Dublin, Ireland. Including units recently launched and nearing completion at Clancy Quay, the partnership will deliver over 1,000 new multifamily units to the Dublin market by 2023, expanding its ownership to approximately 3,300 units.
Both Coopers Cross and the Grange developments are designed by award-winning Irish architecture firm O’Mahony Pike, with sustainability sitting at its heart of these projects, which will target the highest LEED, WELL, BREEAM green credentials, alongside NZEB compliance. Coopers Cross and the Grange are expected to employ up to 800 workers during the three-year construction period.
At Coopers Cross, Kennedy Wilson’s new world-class urban quarter in the North Docks, international construction company John Sisk & Son has been appointed to deliver 472 multifamily units. A long-term development loan facility has also been signed with AIG. The multifamily community will form part of an exciting six-acre, city-centre mixed-use campus, with 395,000 sq ft of Grade A HQ offices and extensive amenities including the largest public park in the North Docks. Construction commenced in March 2020 with final delivery by the end of 2023.
At the Grange, Kennedy Wilson’s existing multifamily community in the prestigious South Dublin suburb of Stillorgan, significant progress was recently made with the appointment of John Paul Construction to deliver 287 units as part of the Phase 1 development, which will grow this community to 561 units. A development loan facility was provided by HBFI and construction commenced in September 2020 with final delivery by the first half of 2023.
Both developments will build on Kennedy Wilson’s signature resident amenity offering, including a dedicated resident app, professional onsite management and security along with pet friendly units and dog parks, roof terraces, parks and children’s playground, fitness centres, games rooms, resident lounges, chef’s kitchens and business centres. The new developments follow on from the completion of Phase 3 at Clancy Quay, where 246 new units were recently delivered to the rental market, bringing the total number of units at this signature development to 875 units, once fully complete.
Pic : The Grange e Coopers Cross
Source : Kennedy Wilson