It is “utter madness” for NAMA to allow the sale of the Irish Glass Bottle Site at Poolbeg to proceed in the wake of the Covid-19 crisis, a TD has said.
People Before Profit TD Richard Boyd Barrett has slammed the decision, saying the site should be used to construct affordable housing instead.
And he said that the site could turn into another Cherrywood where work didn't commence for up to a decade.
Plans for 3,500 homes at Poolbeg West were approved last year with 25% earmarked for a mix of social and affordable housing.
He said: "For the state to consider selling this site, at what will likely be a reduced price, is utter madness because the private sector have a track record of only building when they deem it profitable for them and when they do they build property that is wildly out of the price range of the majority of people.
"We see news today from Goodbody Stockbrokers that the construction industry has slowed down, even before the onset of Covid-19, with a rate of growth in the first three months of this year slowest since the end of 2013 and with completions set to amount to less than 18,000.
"Instead of entrusting this vital site and housing infrastructure that we so desperately need to the likes of Johnny Rohan and Hines who are only concerned with profit maximisation, NAMA must hold on to this site and build directly 100% social and affordable housing on it."
