Local developer Urban Life planning expansion into Dublin housing market
A local developer is planning an expansion into the Dublin house market.
Urban Life is owned by Laurence Goodman Jnr, son of beef baron Larry Goodman, and is best known in the area for developing the Mount Hamilton estate on the Carrick Road and Castle Court in Castlebellingham. They are also behind plans for a new development of 142 houses planned for Mount Avenue with discussions regarding it ongoing with An Bord Pleanála.
If given the go ahead, it would anticipate starting on site in 2019 with the first houses available by mid-2019.
At present Urban Life is building 540 houses across Louth and Meath but in article with the Business Post a spokesperson confirmed “the company is in growth mode” and wants to “expand its geographic area into Dublin where it is currently looking for opportunities.”
Urban Life has become one of the major players in the local building industry, creating several jobs in the process.
It is building 115 houses in Bettystown, Co Meath, with the first phase of 25 homes sold out and 26 more to go on sale early next year. It is also reported that 71 of the 179 homes planned for Mount Hamilton have also sold.
A further 105 houses are being built in Drogheda in a major social housing development in conjunction with North and East Housing Association and Tuath Housing Association.
According to the Business Post, Urban Life’s group of companies has combined assets of more than €8 million, made up of housing stock, cash and loans between the companies.
One of the companies, Urban Life Developments, has assets of €5 million, made up of €2.3 million in debtors and €2.7 million in cash. It has accumulated profits of €1 million.
Goodman recently pumped €2.1 million into the company in the form of a directors’ loan, with a further €500,000 loaned by his fellow director Peter Brennan.