Privately owned global real estate investment firm Hines secured local government approval for its €1 billion mixed-use town center development in Cherrywood, Ireland.
The 2.1 million-square-foot Cherrywood Town Centre project, which the firm said is Ireland's largest single urban development, will offer 1,269 build-to-rent apartments, 585,000 square feet of retail and office space, and additional leisure space.
Hines is partnering with Dutch pension investor APG Asset Management NV on the project's residential portion. The firm expects to break ground on the three-year project in the fourth quarter.
Additionally, Hines filed separate plans for the development of 146 apartments across four blocks at the junction of Bishops Street and Tullyvale Road, outside of the Town Centre project, and for the Primary School at Tully Park within the Cherrywood development that would be able to accommodate about 700 primary school pupils in 24 classrooms.
