The Build

Gather round the fire for a very different kind of Christmas story. In this special episode, we hand the microphone over to a weary Santa Claus to narrate the true, exhausted saga of the "Ironborn" site in Dublin.

It isn't a story about toys or elves. It's a farce about:

• Three Judicial Reviews.
• Five planning applications in nine years.
• Millions of Euro spent.
• And absolutely zero homes built.

Join St. Nick as he walks you through exactly why the Irish planning system is on the Naughty List this year.

(Note: This episode features an AI-generated voice performance. If you enjoyed this, please consider donating to Focus Ireland this Christmas.)

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What if Ireland's cities were planned with the same vision and coherence as Barcelona, Copenhagen, or Helsinki? Tony Reddy, Director of Reddy Architecture and Urbanism, reveals how our planning system has trapped us in a development model where uncertainty reigns supreme and city-building happens in fragmented, piecemeal fashion.

Drawing from over four decades of architectural experience across Dublin, New York, and London, Reddy takes us through the stark differences between European urban planning and Ireland's discretionary system. While Helsinki's planners are designing street infrastructure for neighborhoods that don't yet exist—planning crossroads for 2030—Ireland's planners are drowning in 1,200-page text documents that few people ever read completely. This systemic failure has turned development into a high-stakes gamble where projects typically take 2-3 years just to secure planning permission before construction can even begin.

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Housing shouldn't be a one-size-fits-all proposition. Yet in a decision that stands alone in Europe, Ireland banned an entire category of housing with a ministerial pen stroke. Why?

Peter Horgan, co-founder of Lucas Capital and Grayling Properties, takes us inside the world of co-living - professionally managed, community-focused accommodations that serve as landing pads for young professionals relocating to Dublin. With 70% of residents being newcomers to the city, these developments fulfil a critical need in the housing ecosystem, yet they were banned in an act of self-sabotage that is an all too common move by policy makers.

Show notes:

• Rathmines House - https://rathmineshouse.com/#building
• Liberties House - https://libertieshouse.com/
• Portaferry choosing article - https://www.irishnews.com/news/northern-ireland/approved-communal-housing-plan-for-co-down-will-be-first-of-its-kind-in-ireland-MMAYV7OSEVE4RDOZQDGRILFLI4/
• Portaferry website - https://www.portaferrycohousing.org/
• An article about co-living in Germany - https://cohabitas.com/communal-living-in-germany/?utm_source
• Grayling Properties wrote an article about co-living

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Tom Phillips is a town planner and an art history buff.  We sat down to discuss his somewhat unusual road to becoming a town planner, why so many planning applications get invalidated, what all the acronyms mean, why Children can lobby local councils, podiatry (yes, really!) and why Ireland had, until recently, more than 80 separate planning authorities.

Some notes from the episode:

• TPA report on LRDs: https://acrobat.adobe.com/link/track?uri=urn:aaid:scds:US:1e6b9094-8b42-3e71-abc1-47380d71cc93
• Article about Gavin Newson suspending laws to allow rebuilding https://www.irishtimes.com/world/us/2025/01/12/california-governor-suspends-environmental-laws-to-allow-rebuilding-in-fire-zones/
• Lichfields https://lichfields.uk
• Start With Why – Simon Sinek https://www.easons.com/start-with-why-simon-sinek-9780241958223
• The Incredulity of Saint Thomas https://www.artchive.com/artwork/the-incredulity-of-saint-thomas-michelangelo-merisi-da-caravaggio-1601-02/

Disclosure:
Though Tom is a great guy and extremely knowledgeable, I hadn't until now had the pleasure of meeting him.  Neither he, nor his firm, has carried out any work for me or for any of my companies in the past.

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We speak to Brendan Slattery of McCann FitzGerald LLP about the new Planning & Development Act.

Brendan is a partner at McCann in the Environmental and Planning law division.  He does an incredible job of breaking down the new law and what its likely effects are. There are a lot of surprises, and not the good kind. I throughly enjoyed the chat with him and would urge anyone who needs advice on the subject to give him a call, as his knowledge on the subject is as in-depth as I've ever come across, and his experience is very broad.

Some more details:

• Kari asked ChatGPT “Can you summarise the major changes that have been made to the Planning and Development Act 2024 in Ireland”, here’s what it came up with https://chatgpt.com/share/674ec2db-fea8-8004-aa23-3eee757036e8
• Mark Ruffalo knows about planning law https://www.irishtimes.com/politics/2024/10/09/mark-ruffalo-lng-green-party-planning-bill-ireland/
• China and its ultra high voltage power lines https://www.bbc.com/future/article/20241113-will-chinas-ultra-high-voltage-grid-pay-off-for-renewable-power
• Book recommendation: Running from Office: Confessions of Ambition and Failure in Politicshttps://www.easons.com/running-from-office-eoghan-murphy-9781804189023?srsltid=AfmBOorQV5NHI3fBcJc4wnS6Qp6NpEQIJ_7hNnUaD-Lmcpke8JQMtUFo

Disclosure:
While Brendan has not carried out work for me or my companies directly, we have on occasion in the past worked with his firm McCann Fitzgerald, though never the Environmental and Planning law division.

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Kate Rhatigan, with her brother and sister, runs Winterbrook, a home builder based in Dublin.

In our chat, Kate describes the contribution small builders like Winterbrook make to the supply of housing, describes what it is like working in a male dominated industry and tells a quite incredible story about why her face was on posters around south Dublin (hint: it was to do with planning).

More than anything, the discussion highlights the importance of small, family run construction businesses.  They make up more than 60% of the housing market and are therefore a vital part of the solution to the housing supply problem.

Some items from the episode:

• Winterbrook Homes https://www.winterbrook.ie/
• Poor by Dr. Katriona O'Sullivan: https://www.easons.com/poor-katriona-osullivan-9780241996768
• Report of Housing Commission https://www.gov.ie/en/publication/f3551-report-of-the-housing-commission/

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We talk about our domestic problems a lot, but do we have any worse than other places? This month on The Build I speak with Mathieu Fleury of Leader Lane Developments who tells me all about how difficult it is to get building in Toronto, Canada. Some of their problems will sound very familiar, others are very surprising.  Did you know the Canadian government will give developers 95% LTC financing at 50bps? I sure didn't. 

The episode ventures deep into the evolution of Toronto's real estate scene over the last two decades. Discover how regulatory changes, such as the introduction of a green belt, steered developers towards high-rise condominium projects. Get an insider’s view on the meticulous process of developing a condominium, from zoning hurdles to securing pre-sales for financing. Mathieu and I explore the distinctive zoning dynamics of Toronto, including the challenges posed by the "yellow belt" and the scarcity of mid-density housing options.  Mathieu also gives us some insight into mass timber construction, which he is now deploying at a mid rise development in suburban Toronto.

Some links from the episode:

• Leader Lane https://leaderlane.ca/
• Toronto's tallest building https://condos.ca/toronto/one-bloor-1-bloor-st-e
• Canada Mortgage & Housing Corp https://www.cmhc-schl.gc.ca/
• MLI Select https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/multi-unit-insurance/mliselect
• Book recommendation: https://www.amazon.co.uk/Nuclear-War-Scenario-compulsive-non-fiction/dp/1911709593

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Kate English from Deloitte succinctly explains the overwhelming amount of data that exist on the need for housing, along with some upcoming demographic trends that really matter.  This episode is a must listen if you care about the future of the housing sector.  And of course we talk about Taylor Swift.

Some details from the episode:

• Taylor Swift post link: https://www.linkedin.com/posts/kate-english-2a19a9a3_swiftonomics-consumerspending-hospitality-activity-7212476534991765504-LVjR?utm_source=combined_share_message&utm_medium=member_desktop
• https://www.esri.ie/housing
• Deloitte Crane survey:  https://www.deloitte.com/ie/en/Industries/financial-services/research/crane-survey.html
• Book recommendation:
  • Easons: https://www.easons.com/the-accomplice-steve-cavanagh-9781409198758?gad_source=1&gclid=CjwKCAjw74e1BhBnEiwAbqOAjNmqRZy9nlQIZxuM92l8jnJXSM2X0BCvLX-M-QvDUXsJp6IVqrsRAhoCYMQQAvD_BwE
  • Author’s website: https://www.stevecavanaghauthor.com/

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Chris Wilson, the chief executive of Fairfield Real Estate Finance, takes us on a remarkable journey through his influential career in our latest episode. From his pivotal role at RBS during the financial crisis to navigating the complexities of the NAMA Project Eagle debacle at Jefferies, Chris brings a wealth of experience that is both insightful and eye-opening. You'll gain a deeper understanding of real estate debt finance and learn how alternative lenders like Fairfield are stepping up where traditional banks have retreated, particularly in the European property finance landscape.

Join us as we unravel some of the more controversial aspects of property finance. Chris shares firsthand accounts of notable transactions, such as the acquisition of Malmaison Hotels from RBS and his intricate work with Jefferies Loan Corps Europe post-Project Eagle. The conversation turns riveting as he details his collaboration with Pat Kearney on a significant resolution in Northern Ireland, shedding light on the intricate and often contentious world of finance, including the political fee funneling allegations that surfaced later.

We also confront the pressing challenges within Ireland's property development scene. From stringent planning regulations to the debilitating delays caused by Irish Water, these systemic issues are contributing to the housing shortage, impacting developers and young professionals alike. 

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I'm back, and I'm here just to say thanks.

Disclosure of conflicts from Season 1:

• Episode 3 with John Downey, John did a little bit of work for a JV entity we were involved with a number of years ago but we have no current business relationship with his firm.
•  Episode 4 with Fidelma McManus, no current or past business relationship with her firm.  
• Episode 5 with John Dobbin, no current relationship with his firm, he did do some work for us in the past.  
• Episode 6 with Colm McCarthy, Colm is retired now but he did some economic studies for us about 20 years ago which is how I met him.  
• Episode 7 with Paul Mitchell, no current or past business relationship.  
• Episode 8 with Ken MacDonald, we have an ongoing business relationship with Hooke & MacDonald.  
• Episode 9, there were several guests, none of which we have any business relationship with.

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