5th May 2021
Marlet announces €147 million financing deal with AIG for Grand Canal Harbour
We are delighted to announce that we have agreed a €147 million financing facility with AIG to construct our residential development, Grand Canal Harbour in Dublin 8, which is part of the high profile Castle portfolio. The transaction is Dublin’s largest financing deal so far in 2021 and will fund the construction of up to 596 apartments and 76,000 sqft (7,000 sqm) of retail, clinical, and office (co-working) space, and 18,000 sqft (1,700 sqm) of amenity space.
With over half of the site dedicated to public spaces, including a large and flexible public plaza which will be available for open air markets and events, and many terraces, Grand Canal Harbour has been designed as a fully pedestrianised, sensitive and balanced environment for contemporary living.
The curved harbour warehouse and the historic walls are to be fully restored and refurbished to become a central feature of the development with three large water features celebrating the industrial history of the area.
As with all Marlet developments, Grand Canal Harbour will deliver on the company’s commitment to sustainable and green construction practices, with the aim of achieving HPI (Home Performance Index) certification once completed.
The roof terraces have been designed to enhance biodiversity and provide an amenity for the residents, creating a “green oasis”, with semi-open winter gardens to facilitate all year round and all-weather use.
Grand Canal Harbour is one of the six sites forming the Castle Portfolio, Ireland’s largest available PRS portfolio, comprising approximately 2,000 apartments and duplexes distributed across Dublin due for delivery between July 2021 and March 2024.
Marlet CEO Pat Crean said “We are delighted that AIG is supporting us on this exciting and transformative development which will deliver much needed supply to the Dublin housing market. All the indications are that demand for housing in Dublin will accelerate as the economy continues to rebound from the impact of the pandemic. It is crucial that we find solutions to the complex issues that are impacting housing supply so that the city can meet this demand over the coming years.”
Marlet continues to expand its environmental push by incorporating waste compactors in residential developments
Following a successful pilot scheme in Mount Argus, Marlet is to introduce AES Bord Na Mona’s EASI waste compactors in all its residential sites, in an effort to reduce even further each development’s carbon footprint
28th April 2021