Dublin City Councillors presented it as something of a leap of faith at their March monthly meeting, when they voted to rezone a big patch of land in Coolock from industrial to residential. For the landowners, that means a surge in the land’s value. Councillors said they hoped Platinum Land would stick to the plan it had put forward when it lobbied for the change, for hundreds of affordable homes on the site. But there was nothing they could do to make sure that would absolutely, definitely happen. One of the landowners gave a good presentation to councillors, said Sinn Féin Councillor Ciaran O’Moore, at the meeting. “But we have a fear, if he isn’t locked in some way legally, if it was rezoned that he’ll turn around and flog the land, for three or four times the price, the value that he actually got,” O’Moore said.
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