The company behind the commercial development of Greystones Harbour are now concerned that their structures will be flooded by the sea before they have had a chance to sell them. With rising sea levels arising from Climate Change experts now believe that the elevation of the structures to be built is too low to protect them from rising sea levels. Potential investors to this development will need to take a very short term investment view of these structures.
I heard that each apartment will be fitted with a life buoy!!!!Originally Posted by Lennon
How long to they expect to take to build to completion, 500 years?
A poster of some consequence...
I fail to see the significance of 500 years?
Experts already acknowledge that Climate Change induced rising sea levels is already accelerating. It is unwise in the light of this to build houses in flood prone areas and how much flood prone can you get than in the sea.
This is an interesting if not unexpected development.
I recall that the developers admitted at the oral hearing that the destruction of dwellings on the North Beach in the 1930s was not considered by the developers in their plans.
There is a real risk to any structures on the Greystones seafront especially considering the flooding history of the very sames Greystones North Beach area.
The OPW website www.floodmaps.ie details contemporaneous newspaper articles describing a tidal wave which destroyed a number of cottages along this same stretch of coast in the 1930’s. The planned new structures are proposed to be located on the sea bed in front of the site where these cottages were previously destroyed by the sea.
Investors foolish enough to buy any of these structures would seem to be running the risk of incurring flood losses with consequent negative equity.
This development is doomed to be destroyed by the sea. Avoid it like the plague is my advice.
The developer will build the harbour breakwaters and the apartments but will then find it difficult to sell them. With property prices still falling this could indeed be an expensive project for the shareholders of Park Developments and Sisks.
Wise words from the Accountant in 2007 foretelling of the bursting of the property bubble and the doomed development on Greystones Harbour. After spending €80 million Sispar is now completely devoid of funding and is seeking a dig out from NAMA to bail it out.
The new harbour is a monstrosity and completely out of keeping with the character of the town
Is this what the economy and property nuts mean by 'all boats rise together'?
Fianna Fail - The Anti Democratic Party & The Anti Constitutional Party. Traitors of Irishmen and Irishwomen.
While the experts masturbate in their small isolated and communal groups, actual data suggests that the rise in mean sea levels THAT HAS BEEN OCCURRING FOR CENTURIES has in fact slowed and in any event is measured in MILLIMETRES PER DECADE.
Back ot the earlier post. How long do they anticipate completion of these "structures" to take?
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Third Assessment Report: “long-term prediction of future climate states is not possible.”
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