Now Longboat businesses are hit with demand for €60k each
Commercial tenants of the Longboat Quay development are being asked to cough up almost €60,000 as part of a €4m repair bill.
Some six commercial tenants inhabit the development, along with 900 residents who live in 299 apartments.
Paddy O'Dea, a spokesman for the Longboat Quay owners and residents, confirmed that business tenants will be expected to pay a fee of €57,644 each.
"All the commercial tenants are in standard units, so the price should not vary too much," he said.
"This may be subject to change with regards to ongoing talks, but at the moment this is the figure that businesses are being expected to pay."
Despite ongoing consultations between residents and the property management company, businesses say they are unaware how much they are expected to pay.
Jenni White, a manager at the Jule Beauty Therapy store, explained how she was unaware of repair costs for businesses and residents alike until yesterday.
"We haven't heard anything about paying €50,000 towards repairs, so we're hoping to be informed in the next 24 or 48 hours," Ms White said.
"As well as having to pay the repair fee, if that is the case, evacuating the apartments will have a huge effect on our business.
"We depend so much on the locals in the area, and our business as well as others in the area will suffer. It's just wrong what's happening to these people."
Brendan McNamara was the man behind the Longboat Quay development property which was finished towards the end of the boom.
McNamara, from Lisdoonvarna, Co Clare, who counted the likes of the Shelbourne Hotel and the Burlington Hotel among his conquests during the boom, was formally discharged of his €1.2bn bankruptcy early last year.