Nama dismisses claims it is ‘sitting’ on sites ready for development

NAMA has dismissed claims it is ‘sitting’ on sites in Dublin that could be used for housing.

Several developers have claimed that the State agency has a number of prime residential sites in Dublin and surrounding counties which are ready to go, but have not yet been released for developments.

Developers have told the Irish Independent of examples of a number of sites they claim is contributing to a delay in the delivery of new homes in the capital and elsewhere.

However, a spokesman for the agency said: “The suggestion that Nama is ‘sitting’ on sites that are ready for devel- opment is untrue. The only criterion considered by Nama is whether sites are commercially viable to develop. If they are, we fund residential projects under the control of our debtors and receivers without any delay.”

Earlier this week, it was revealed that Dublin City Council (DCC) and receiver David Carson, who is working on behalf of Nama, are locked in a dispute over the number of affordable units at Poolbeg in Dublin.

The site is earmarked for more than 3,500 homes. The council wants 350 social houses and 550 affordable units to be provided. However, an agreement on affordable units will not be reached unless a commercial deal is struck.

Mr Carson has appealed provisions relating to the 550 units, the council says.

An oral hearing is currently ongoing at An Bord Pleanála.

The site benefits from a €15.75m Local Infrastructure Housing Activation Fund (LIHAF) investment to help fund a new bridge at the Dodder River that will provide access to the development. In a memo sent to elected representatives, DCC’s Richard Shakespeare said he was disappointed at the decision made by the receiver to appeal the provisions relating to the 550 units.