Fine Gael Dublin Bay South bye-election candidate James Geoghegan said it is positive for young people and families in Dublin city.
The development, which James Geoghegan voted for as a councillor on Dublin City Council, includes affordable houses and apartments for purchase prices ranging from €260,000 to €300,000.
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Councillor Geoghegan, who represents the Pembroke electoral area, said: "This is the exact type of mixed affordable development we need to be delivering at scale throughout our city so that young people can have a real chance of owning their own home.
"The Central Bank review currently taking place on its mortgage rules which restricts borrowing to 3.5 times a person’s salary needs to consider the ability of my generation and younger to own a home as its number one priority.
"Nobody wants to return to the bad lending practices of the past, but equally we must be so careful that the rules we have in place do not contribute to an unequal society.
"For generations, our country has been built on an economic and social model that gives individuals and families the opportunity to own their own home."
