Specialist real estate finance provider Maslow Capital has extended a €56.4 million development facility to support the construction of 189 apartments on James’s Street, Dublin 8. The scheme will be delivered by Kinvara Star Property, a joint venture between Kinvara Property and the Castlestar Property Group. The apartments have been forward-sold to Clúid Housing Association, with Maslow Capital financing the pathway from acquisition to construction through its Bridging and Development products.
The development comprises three blocks ranging from three to eight storeys, situated beside the historic Guinness brewery within the broader Dublin 8 regeneration zone. The location benefits from strong transport connectivity and a wide range of local amenities. Residents will also have access to approximately 232 sq m of shared facilities and landscaped courtyard areas.
Townmore Construction has been appointed as the main contractor under a Design and Build agreement and will oversee delivery of the scheme. The development facility follows a bridging loan provided by Maslow Capital in March to support the site acquisition, with the sponsor subsequently progressing to the firm’s development finance to fund construction.
With Ireland’s housing market continuing to face significant undersupply and persistent challenges around viability for private-sale apartments, Maslow Capital is further expanding its presence in the country. Supported by a €10 billion-plus track record across eight markets and an on-the-ground team based at its Dublin office on Mespil Road, the firm offers flexible funding solutions from acquisition through to stabilisation, with facilities ranging from €300,000 to €750 million.
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.”
