The Elysian
| 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 |
| 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.[citation needed] 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
- ^ "Cork anchor unit for over €13m". The Irish Times. 9 April 2008. Retrieved 24 August 2015.
{{cite news}}: Cite has empty unknown parameter:|1=(help) - ^ Press release from O'Flynn Construction (2007)
- ^ Roche, Barry (18 September 2008). "Praise for new 'landmark' tower in Cork". The Irish Times. Retrieved 21 September 2008.
- ^ Eglinton Street from skyscrapernews.com (2005)
- ^ "Emporis entry - The Elysian, Cork (EBN 233004)". Emporis (building database). Retrieved 22 August 2015.
- ^ "Elysian vision for high rise living in Cork". The Irish Times. 18 September 2008. Retrieved 21 September 2008.
- ^ 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.
- ^ "Cork's Elysian is a 'Mary Celeste' adrift in the recession". The Irish Times. 10 October 2009.
- ^ 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.
- ^ Barker, Tommy (3 April 2014). "Aldi wins Elysian go-ahead". Irish Examiner. Retrieved 24 March 2016.
- ^ "Aldi opens new store at The Elysian". Evening Echo. Cork. 11 December 2014. Retrieved 11 December 2014.
- ^ O'Dwyer, Peter (31 January 2015). "O'Flynn and Blackstone — it's a deal". Irish Examiner. Retrieved 24 March 2016.
- ^ "O'Flynn Group strikes agreement with Blackstone". RTÉ News. 13 February 2015. Retrieved 24 March 2016.
External links
