The project will be built at the grounds of Chanel College, near Coolock village, north Dublin.
Parnell's GAA club have envisage the project will generate up to €5 million in wages for the local community, with 200 people employed during the 12-month development, which will commence in the autumn.
On completion, Parnell's expect to employ 10 staff on a full-time basis and another 20 part time.
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The investment will increase to €30 million with the construction of 17 houses and 53 apartments on the remaining four acres of land.
The ambitious project is being paid for from the sale of 22 acres of land near Dublin airport in 2007, which was marketed at the height of the property boom, for €22.5m.
There will be three floodlit pitches, two all weather pitches and a full size sand-based grass pitch, along with a sports hall containing a championship-sized basketball court (discussions on its use are ongoing with local basketball clubs), a gym, a sports therapy centre and a new, modernised clubhouse.
The project began with submissions for planning permission to Dublin County Council on July 31st last year, which was granted in December, but it took a further 10 months before objections could be dealt with in full by An Bord Pleanála.
The overall project involves a joint venture between the Marist Fathers and Parnells.
The Marist Fathers have plans to develop 17 houses and 53 apartments alongside the sports facility.
(BMcC/GK)
