Developer banks on boom in rental property market

From this week’s Galway City Tribune – The backer of the Crown Square scheme in Mervue is planning an increase in the number of apartments in the development following a review of the economic viability of the project.

The 345 apartments will specifically target the rental market.

Crown Square Developments Ltd, which is operated by developer Padraic Rhatigan, has told Galway City Council that the amended plans will form part of a new planning application to be made directly to An Bord Pleanála under ‘Strategic Housing Development’ legislation.

According to the company, the property market has changed since it was granted permission in November 2019 for 288 apartments in three blocks ranging from five to eight storeys in height.

Mr Rhatigan has now sought planning permission for an 18% reduction in the overall size of basement levels and a reduction in car parking from 1,377 to 1,012 spaces. Cycle parking spaces will increase from 1,110 to 1,200.

The plan also involves the relocation of the vehicular and pedestrian access to the development on the Monivea Road, which will now be closer to McDonagh Avenue. The existing planned access is at the south-easternmost point of the site, but is now planned to move further west.
This is a shortened preview version of this article. To read the rest of the story, see this week’s Galway City Tribune. You can buy a digital edition HERE.