New Waterfront Development Ready to Dock in Dublin

A project containing more than 660,000 square feet of space is ready for take-off in Ireland’s Fair City.

Dublin, Ireland—Kennedy Wilson of Beverly Hills, Calif., together with its equity partner, has entered a joint venture with the National Asset Management Agency (NAMA) to revitalize an undeveloped site in Dublin’s central business district. The company recently announced the venture has received planning permission for “Capital Dock,” a more-than-4.8-acre development on Sir John Rogerson’s Quay in Dublin 2.

Work on the massive waterfront project is scheduled to start by December 2015, and will entail the development of 316,000 square feet of office space across three buildings, 204 upscale multifamily units across an additional three buildings, a 1.5-acre landscaped public park and square, as well as extensive retail space. One of the buildings will incorporate a 19-story tower, according to The Journal, and the joint venture is also planning for a pedestrian footbridge across the River Liffey.

Overall, Capital Dock is expected to deliver more than 660,000 square feet of space by early 2018, and will allow the partners to merge their adjacent three-acre site at Sir John Rogerson’s Quay, the Irish Times reports.

The costs for the mixed-use project are currently projected at $225 million, to be financed through debt borrowings and equity from Kennedy Wilson, its equity partner, and NAMA.