The State has bought the O'Connell Street development site from UK property group Hammerson for the development of the MetroLink.
The site was once the Carlton cinema and spans around 200 metres along O'Connell Street.
According to reports, Transport Infrastructure Ireland (TII) said that acquiring this site is necessary to move the development of the MetroLink along. They also stated that it will allow it to work with Dublin City Council to redevelop O'Connell Street.
Hammerson announced on Wednesday, according to the Irish Times that it had sold non-core assets including multiple holdings in Dublin. “The central Dublin holdings were sold to Transport Infrastructure Ireland to unlock key infrastructure for the city’s planned Metrolink train system. Hammerson has retained certain holdings in Dublin which provide strategic options across development, partnerships and future value realisation," they said.
Reports have stated that a station for the MetroLink will be at O'Connell Street, however it has yet to be confirmed what impact this will have on the regeneration of the Dublin Central site owned by Hammerson.
The planning permission for the MetroLink includes an underground station at O'Connell Street under the Carlton cinema and will run from Swords in North Dublin to Charlemount in South Dublin. The MetroLink will also serve Dublin Airport.
According to reports the MetroLink was to be built in agreement with Hammerson, as part of their shopping centre, office and residential scheme.
The scheme that was approved last November and received planning permission by Dublin City Council in 2022 was appealed to An Bord Pleanála. The board upheld the council's decision, however it was then appealed to the High Court by the Moore Street Preservation Trust, and Sinn Fein.
TII Chief Executive Lorcan O'Connor suggested the State’s acquisition of the site would “allow us to redevelop this important area for the benefit of the Irish people, while also bringing benefits that will make the construction of MetroLink easier”.
"With the area now in State ownership, we can work closely with the Dublin Task Force and other government agencies to enable the development and implementation of a master plan so that our main street can be something that we can all be proud of," he continued.
It has yet to be revealed if the Hammerson scheme will go ahead or if TII will seek fresh planning permission for a new development.
Head of Dublin City Council's Project Management Unit Robert Watt told RTE that he thinks the acquisition will help improve O'Connell Street.
"This development represents an opportunity to diversify the economic profile of the street and immediate environs, to increase the supply of high-quality residential housing on O'Connell Street and critically, build a more vibrant urban environment," Watt said.
"This is the ambitious, sustainable regeneration O’Connell Street needs. Leading the delivery of the Taoiseach’s Taskforce, I look forward to working with our partners in TII to support development that delivers lasting benefits for our communities and help shape a more dynamic city centre for the future," he continued.
