Maslow Capital funds social homes in Dublin

Real estate finance provider Maslow Capital has committed a €56.4 mln development facility to fund the construction of 189 apartments on James's Street in Dublin 8. 

James's Street

The project is a collaboration between Kinvara Property and the Castlestar Property Group, forming the joint venture Kinvara Star Property.
These apartments have been pre-sold to Clúid Housing Association, with Maslow Capital providing comprehensive financial support from the initial acquisition through to construction, utilising both its bridging and development finance products.
The development, featuring three blocks ranging from three to eight storeys, is strategically located near the famous Guinness brewery within the revitalised Dublin 8 area. It boasts excellent transport links, existing amenities, and will offer residents approximately 232 m2 of shared facilities and landscaped courtyards.
Townmore Construction has been appointed as the main contractor for the design and build of the scheme. This development financing follows an initial bridging facility from Maslow Capital in March, which facilitated the site acquisition, demonstrating Maslow's continuous support for the project's progression.
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.”
Emma Burke, MD, Development Finance (UK & Europe) at Maslow Capital, added: “Over 16 years, we have established a €10 bn-plus track record that supports delivery certainty. Our funding spans the full lifecycle – from Bridging at €300k to Development up to €750 mln – 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.”