Maslow Capital provided a €56.4m Development facility to fund the construction of 189 apartments on James’s Street, Dublin 8. The project will be delivered by Kinvara Star Property, which is a joint venture between Kinvara Property and the Castlestar Property Group. The Apartments have been forward-sold to Clúid Housing Association with Maslow Capital supporting the journey from acquisition to build, through its Bridging and Development finance products.
The Apartment scheme, arranged across three blocks ranging from three to eight storeys, is located beside the iconic Guinness brewery and within the wider Dublin 8 regeneration area. The location offers strong transport links and established amenities and residents will have c. 232 sq m of communal facilities and landscaped courtyards.
Townmore Construction has been appointed as the Main Contractor under a Design and Build contract and will lead the delivery of the scheme. The financing follows a Bridging facility provided by Maslow Capital in March to support site acquisition, with the sponsor progressing to Maslow’s Development finance to fund construction.
With Ireland’s housing market still facing acute undersupply and constrained viability for private-sale apartments – Maslow Capital continues to expand in Ireland. Leveraging a €10bn-plus track record across eight countries and on-the-ground capability from its Dublin office at 40 Mespil Road, Dublin 4, Maslow provides flexible, end-to-end funding solutions from acquisition through to stabilisation, with facilities from €300k to €750m.
Ronan Barrett, Director at Kinvara Star Property, commented: “This is an important social housing project for James’s Street, bringing 189 apartments to an exceptional location. The project is being delivered in collaboration with Dublin City Council and Cluid with the support of the Department of Housing and Housing Agency. The scheme has been forward sold to Cluid and Townmore are engaged to deliver the construction programme. Maslow’s experienced team, and their demonstrated track record supporting developments of this size, gave us full confidence that we have a finance partner who will support the project as we move into the development phase of this important social housing scheme.”
Frank Daly, Senior Director, Origination (Ireland) at Maslow Capital, commented: “James’s Street is an iconic location at the heart of Dublin’s regeneration, beside the Guinness brewery. Kinvara Star and Townmore bring a highly capable team with a clear plan and a strong delivery record. Our end-to-end funding – from Bridging to Development – maintained momentum and certainty through acquisition and into build. We are proud to see our full product set in action – giving clients single-lender continuity that reduces handover risk, streamlines diligence, and keeps the build programme on track.”
Emma Burke, MD, Development Finance (UK & Europe) at Maslow Capital, commented: “Over 16 years we have established a €10bn-plus track record that supports delivery certainty. Our funding spans the full lifecycle – from Bridging at €300k to Development up to €750m – so clients can access the right capital as they grow. We take pride in supporting real estate professionals at every stage and scale, and we look forward to partnering with more Irish developers and investors, giving them access to this capital to grow their businesses and deliver much-needed housing across Ireland.”