Ikea-backed 169-unit housing development coming to Ashtown
A new apartment scheme, supported by investment from Ikea’s parent company, is coming to Ashtown in Dublin, with more than half the units to be bought for social housing by Dublin City Council (DCC).
Rathborne Crossing will consist of 169 homes – a range of one, two and three-bedroom units and some duplexes – for the fast-growing Dublin suburb.
Ingka investments, Ikea’s parent firm, will provide €73m towards the scheme through London-headquartered Aurium Capital.
Developer Castlethorn is building the scheme, with the first phase due to be finished by November next year.
When the full scheme is complete in 2027, it will include communal green spaces, playgrounds and a crèche facility.
Dublin City Council will purchase 86 of the homes for social housing with funding from the Department of Housing, while the remaining 83 units are to be sold on the open market.
The development was supported by the Croí Cónaithe (Cities) state scheme, which aims to bridge the ‘viability gap’ for apartments in urban locations by providing significant state subsidies to developers, which can stretch to up to €144,000 per unit.
Lord Mayor of Dublin, Councillor Ray McAdam, at the announcement of 169 new homes in Rathborne, Dublin 15. Pic: Fennell Photography
Speaking at a launch of the scheme this week, Minister for Housing James Browne said those state subsidies made the development possible, and pointed to the success so far of Croí Cónaithe in Cork and south Dublin.
Dublin’s Lord Mayor Ray McAdam added that the project was a “strong example” of collaboration between local government and private partnerships.
“It reflects our shared vision for building vibrant, well-connected communities that meet the needs of our growing city,” he added.
A collective statement from DCC, Aurium Capital, Castlethorn, Ingka Investments and the Department of Housing said: “This project demonstrates the commitment to contributing to the communities in which it operates, aligning with the IKEA vision to create a better everyday life for the many people.”
They say the project is focused on sustainable living, with A2-rated units that meet nearly-zero energy building standards, and provide solar panels, heat pumps and EV charging facilities.
The project was initially intended to be exclusively social homes, they said, but plans were adjusted to “better reflect” the mix of housing needs in the city and enable “meaningful home ownership”.