Seventy nine new social housing units in Dublin are being unveiled later today as part of a public private partnership deal between the city council and developers McGarrell Reilly.
The units, as well as a community centre, are being delivered upfront by the developers as part of an overall development involving 263 apartments along with retail and office space at Charlemont Stin the south city - rte.ie said.
There are 34 families still living in the original flats who will move into their new homes in November.
They have been waiting for the regeneration project that has taken nearly 20 years to come to fruition facing delays caused by tenanting, funding and planning as well as the economic downturn.
Apart from the upfront delivery of 79 social housing units, a community centre with a sports hall and play area to the city council, the city council also gets a payment of just under €5mand an option to purchase another 15 units for social housing at a 10% discount along with a further option to buy 58 apartments at market price.
Development company McGarell Reilly will develop 184 apartments mostly for private ownership or private rental.
It will develop 200,00 sq ft of office space enough for 1,000 workers and 30,000 square feet of retail and get ownership of 3 commercial units at part of the deal.
Executive chairman Seán Reilly said the development will create a "dynamic quarter" for the city.
It will replace the old flat complexes of Charlemont Gardens, Tom Kelly Flats, Ffrench Mullen House and St Ultans which had a total of 214 units including 56 bedsits.
Some city councillors have demanded that new developments be 100% social housing because of the current crisis.
But the city council's executive manager for housing Tony Flynn said such developments were not sustainable in the past.
Local councillor Dermot Lacey said the project is supported by most councillors and it "shows that local government can deliver when allowed. My appeal to the Government is give us the funds and the flexibility to deliver and we'll do it".