The Elysian

For other uses, see Elysian (disambiguation).
The Elysian

The Elysian tower, June 2009
General information
Type Office, residence
Location Eglinton Street, Cork, Ireland
Coordinates 51°53′48″N 8°27′48″W / 51.896676°N 8.463367°W / 51.896676; -8.463367Coordinates: 51°53′48″N 8°27′48″W / 51.896676°N 8.463367°W / 51.896676; -8.463367
Completed 2008
Height
Antenna spire 76.28 metres (250 ft)[1]
Roof 68.28 metres (224 ft)
Technical details
Floor count 17 (plus two basement garages)

The Elysian is a mixed-use Celtic Tiger-era building at Eglinton Street in Cork, Ireland.[2] Construction of the building was completed in early September 2008.[3]

It consists of a number of connected 6-8 storey buildings, with a landmark 17-storey [4] tower on the southwest corner of the site. The tower is 68.28 metres (224 ft)[5] to the top floor, making it the tallest storeyed building in the Republic of Ireland, surpassing the Google Docks building in Dublin. The complex includes an enclosed Japanese garden and a two-level basement garage.[6]

The building opened during an economic crisis in Ireland and by late April 2009, 80% of the 211 apartments remained unsold and 50% of the commercial units were vacant.[7] As of October 2009 this situation continued, earning the building the nickname "The Idle Tower", a pun on a nearby hostelry known as The Idle Hour. An article in The Irish Times newspaper described the Elysian as a "Mary Celeste adrift in the recession"[8] Mandatory annual management fees for an apartment in the Elysian are €4,000 per year. In January 2010, developer O'Flynn Construction's debts of €1.8bn were acquired by the National Asset Management Agency, which bundled them as "Project Tower" and sold them for €1.1bn in May 2014 to Carbon Finance, a subsidiary of The Blackstone Group.[9][10] In December 2014 an Aldi supermarket opened on the ground floor.[11][12] A dispute between O'Flynn and Carbon on repayments was settled in February 2015, with Carbon retaining ownership of the Elysian.[13]

See also

References

  1. ↑ "Cork anchor unit for over €13m". The Irish Times. 9 April 2008. Retrieved 24 August 2015.
  2. ↑ Press release from O'Flynn Construction (2007)
  3. ↑ Roche, Barry (18 September 2008). "Praise for new 'landmark' tower in Cork". The Irish Times. Retrieved 21 September 2008.
  4. ↑ Eglinton Street from skyscrapernews.com (2005)
  5. ↑ "Emporis entry - The Elysian, Cork (EBN 233004)". Emporis (building database). Retrieved 22 August 2015.
  6. ↑ "Elysian vision for high rise living in Cork". The Irish Times. 18 September 2008. Retrieved 21 September 2008.
  7. ↑ Tomlinson, Richard; Dara Doyle (8 June 2009). "Ireland Loses Iceland Stigma as Euro Ensures No Return to Past". Bloomberg L.P. Retrieved 24 June 2009.
  8. ↑ "Cork's Elysian is a 'Mary Celeste' adrift in the recession". The Irish Times. 10 October 2009.
  9. ↑ Irvine, Mary C. (13 August 2014). "O'Flynn Construction Co. & ors & Cos Acts: O'Flynn & anor -v- Carbon Finance Limited & ors : Judgments & Determinations :". High Court Judgments. Courts Service of Ireland. pp. [2014] IEHC 458. Retrieved 24 March 2016.
  10. ↑ Barker, Tommy (3 April 2014). "Aldi wins Elysian go-ahead". Irish Examiner. Retrieved 24 March 2016.
  11. ↑ "Aldi opens new store at The Elysian". Evening Echo (Cork). 11 December 2014. Retrieved 11 December 2014.
  12. ↑ O'Dwyer, Peter (31 January 2015). "O'Flynn and Blackstone — it's a deal". Irish Examiner. Retrieved 24 March 2016.
  13. ↑ "O'Flynn Group strikes agreement with Blackstone". RTÉ News. 13 February 2015. Retrieved 24 March 2016.

External links

Wikimedia Commons has media related to The Elysian.


This article is issued from Wikipedia - version of the Friday, March 25, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.