Development of land at Clarinbridge Galway

Description

The Housing Agency wish to enter into a contract with Goldhill Real Estate (“Goldhill”) to develop a site it owns at Clarinbridge, Co. Galway. Lot 1: The Housing Agency wish to enter into a contract with Goldhill to develop a site it owns at Clarinbridge, Co. Galway for housing. Pursuant to this contract, Goldhill would acquire the site from the Housing Agency and subject to securing planning permission, build up to 25 new homes as part of a new assisted living housing development. Four of the homes would subsequently be sold or leased to a nominated Approved Housing Body (“AHB”) to cater for local individuals deemed to have a housing need. These homes would be separate and additional to any Part V of the Planning and Development Acts (as amended) requirement which would apply to the development. Goldhill will be free to retain or sell the remaining units on the open market. The contract will also provide for the reversion of the site to the Housing Agency in the event that Goldhill fail to secure planning permission for the development or if they fail to commence works for the development within a defined period of time. Goldhill will also be obliged to restrict the use of the completed development to that of an assisted living development for a defined period of time.