Nuveen and Eagle Street break ground on North Docklands BTR

Nuveen and Eagle Street will deliver the new much-needed residential development within Dublin’s North Docklands.

Nuveen Real Estate and Eagle Street Partners break ground at the North Docklands scheme in Dublin | BTR News
Nuveen Real Estate and Eagle Street Partners break ground at the North Docklands scheme in Dublin.

Investment manager Nuveen Real Estate and the investment advisor to a joint venture between an insurance separate account of its parent company, TIAA, Australian superannuation fund HESTA, and pan-European real estate investment and asset manager Eagle Street Partners have announced that works have started at the North Docklands Build to Rent development at Castleforbes Business Park.

The scheme will deliver much-needed social and affordable housing to the city centre and will comprise 702 apartments in a mix of 508 studios and one-bed apartments, 179 two-bed apartments and 15 three-bed apartments. 

“We are extremely excited to start development of the Castleforbes site to deliver much-needed housing in a key city centre location. Due to the challenging macro environment, we are happy to be one of the few schemes delivering on-site after a period of constructive adaptation with our delivery partners. Our vertically integrated Resident Space platform is excited to commence this project and has the ambition to add to our portfolio as we actively look for more opportunities in the market.”

Shane Scully, CEO and Co-Founder, Eagle Street

Located in Dublin’s Central Business District (CBD), the site is situated at the economic heart of the capital and nearby the headquarters of a wide range of domestic and multinational firms. The 46,000 sqm North Docklands development will include new homes for rent in eight blocks each with dedicated rooftop access.

Also contained within the plans is a new community public amenity space, an adjacent hospitality offering and an 18-storey residential tower.

Eagle Street will be acting as developer and operator for the apartments under its Resident Space operating platform, providing a highly engaging and digitally enabled living experience for tenants at North Docklands. The residential block will be built by John Paul Construction and financed by Apollo Global Management.

“The start of works at the Castleforbes site is an important milestone for the development, and we look forward to working with our partners Resident Space to deliver a flagship scheme in our European living portfolio. Despite the challenging environment over the past year, we continue to believe in the strong fundamentals Dublin has to offer and remain active within the market.”

Alisha Chauhan, Director – European Housing, Nuveen Real Estate