The Irish Times reports that about 100 apartments have been sold to a German Fund. Cllr Fortune seems very concerned about this but it is the plan from 15 years ago that these were to be built and sold to pay for the social infrastructure which has been built. The apartments have been rented out for around 6 months.
‘€90m has been spent on excellent promenades, substantial north and south breakwaters, a 200 berth marina, 2 public slipways, club facilities for sea scouts, rowers, divers, sailors and anglers. The excellent new square, boardwalk and park form a fitting entry to Greystones from the very popular Cliff Walk from Bray. There were no Government or Council funds for this so all the cost had to be raised from the properties’ said Cllr Derek Mitchell, Cathaoirleach, Greystones Municipal District.
Interestingly Brays Victorian promenade was funded also by property development when Dargan built the railway, houses and promenade over a century ago turning the town into a major tourist destination.