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UNIVERSITY COLLEGE DUBLIN, the country’s largest university, is planning to build 3,000 new student residences at a cost of €300 million.
The news comes just as UCD opens its newest accommodation block, Ashfield, which houses an additional 354 student residences.
The opening of Ashfield brings the number of students in on-site accommodation to 3,164 at the Belfield campus.
The new accommodation will come as some respite for Belfield-bound students as the search for somewhere to live kicks into top gear ahead of another college year.
UCD is currently home to about 25,000 students.
The 3,000 new residences form part of the college’s campus development plan which is expected to cost in the region of €775 million, including the €300 million required for the 3,000 new residences.
When completed just under a quarter of the student population will be able to be housed on campus according to the college.
“As part of our overall university strategic plan, we want to develop world-class facilities to ensure we continue to attract the highest calibre of both students and staff,” university president Andrew Deeks said at the Ashfield opening.
Meanwhile, Housing Minister Simon Coveney, who attended the opening of Ashfield along with Education Minister Richard Bruton, said that future campus expansions such as the Ashfield complex at UCD will be fast-tracked to An Bord Pleanála as part of a sped-up planning process.
“This is a no-brainer as far as I am concerned,” Coveney said.
The Government’s action plan contains specific commitments that will be critical enablers of delivery of purpose-built accommodation, such as the additional 3,000 here at Belfield.
As part of the Government’s action plan for housing, 7,000 new student residences are expected to be in supply by 2019 according to Bruton.
The Higher Education Authority (HEA) currently estimates a shortfall of about 25,000 bed spaces for students across the country.
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Can I have my money back now
It’s like’…..burning your furniture – to keep warm!
Why are PwC saying this instead of IBRC and NAMA?
As property prices start to rise nama , ibrc start to dump property
Can someone explain why?
Dumping loans philip, not property. They’re Dumping the loans as they’re non-performing and want to get them off the balance sheet.
If they had the patience, they’d put arrangements in place to allow the properties to return to positive equity and then seek a sale, this recouping more of the tax payers money.
Unfortunately, they’ll sell the loans for a discount and allow the new purchasers to do this and net a tidy profit.
The article outlines that IBRC (IBROKE would probably be a better name) will offload € 15 billion in loans.
Yet the linked article tells us that IBROKE have already offloaded 90% of its loanbook, € 19.8 billion out of € 21.7 billion leaving just € 1.9 billion on hand.
This can only mean, if the previous article is correct, that it is NAMA that is offloading the majority of the loans.
Why the subterfuge?
Why make people think that this is some kind of joint enterprise when it is NAMA that is leading the charge?
Have the shiny suit brigade from the canal something to hide?
Given their obsession with secrecy it would not surprise me if they have, perhaps selling the loans to some preferred customer with an inside track at a serious discount.
The way things go it will all be wrapped up before we know anything, plus ça change.
Who in their right mind would buy this junk?
It might only be worth 30% of face value but if you buy it for 20% it’s a good deal. For the buyer anyway.
@ Irish Revolution
The Banks?
Hedge funds bought it. They will now sell off all the ghost estates etc at a lower price so people that have houses for sale at the min will eventually have to sell for half or take them off the market.
Fab house here in drogheda asking price €325. Hilarious. You could now nearly get a house for that on raglan road or ailsbury road!! So that house is realistically worth less than €150 really.
People and notions ha
What about Bank of Scotland selling on my mortgage & others in their Irish portfolio to a company called Tanager Ltd.
I’m in a tizzy all day because I don’t know what it means for us.
have your say