Deal Offered To Priory Hall Residents

Former residents at the Priory Hall complex have been offered a deal.

According to RTÉ, those who owned property at the facility will have their existing debts written off by the banks, and will also be given new mortgages to buy homes elsewhere.

In addition, the Government will take control of the complex, through Dublin City Council, and it will be refurbished "into a desirable, high quality, safe location."

The proposals were unveiled by Minister for the Environment, Phil Hogan, on Monday evening.

The news comes after three weeks of negotiations with former residents, banking representative, senior civil servants and the city council.

Welcoming the announcement, Minister Hogan said: "The proposals are now being considered by the residents and I believe they are a fair and reasonable outcome. They will give Priory Hall owners an opportunity to get on with their lives.

"The proposed Framework recognises the exceptional and unique difficulties faced by the home owners in Priory Hall over the last two years and I believe that it offers a fair and reasonable solution to their housing needs.

"The Priory Hall residents have been involved in the discussions and have been briefed on the Framework. Understandably they have asked for an opportunity to consider the proposals carefully. Therefore, to respect the wishes of the residents, details of the proposed Framework will not be made public at this stage."

He added: "Priory Hall was one of the worst examples of the failures of the Celtic Tiger years, and I am pleased that we now have an approach in place to resolve it. I also have introduced new building regulations to ensure that a situation like Priory Hall can never happen again.

"This new regulatory framework will require the various building professions to take responsibility for their work and will be strictly overseen by the building control authorities and ultimately the courts."

(JP/IT)