Dun Laoghaire Rathdown County Council has unveiled plans to build almost 600 affordable homes in Shankill.
The council has partnered with the Land Development Agency in order to fast-track delivery of the development in Shanganagh.
Of the 598 new homes, 307 will be cost-rental homes which will offer security of tenure to people struggling to rent at affordable levels.
A further 200 units will be social homes while the remaining 91 will be made available as affordable homes.
Councillor Shay Brennan commented: "This is excellent news for people looking to buy or rent a home in our area and will make a significant contribution to meeting the Council’s social housing requirements and will provide an opportunity for people to purchase or rent a home at an affordable cost.
"The development will offer people an attractive place to live that is close to key transport links and supported by a wide range of local amenities.
"We look forward to continuing to work in partnership with the LDA to complete these homes and have people living in them as soon as possible."
LDA Chief Executive John Coleman added: "This landmark development for the LDA is the first of many projects in our pipeline.
"It will be one of the largest residential construction projects in Ireland and is a major statement of our intent to help renters, buyers and people in need of social housing with large-scale delivery of high-quality new homes.
"It also points to the effectiveness of the LDA and the potential to work with local authorities and other public landowner partners.
"This development will offer renters long-term security of tenure while also adding to the supply of social and affordable housing in the Dún Laoghaire-Rathdown area. Its proximity to the planned DART and BusConnects transport options is consistent with our ethos of engendering reduced need for car journeys."
The homes will be built using environmentally friendly techniques and will promote car-free living to the greatest extent possible with over 1,200 bicycle spaces.
The development will also include a gym, creche, a cafe, communal lounge area, business pods and co-working units.
The council will submit a planning application to An Bord Pleanala next month.
