The Elysian

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The Elysian is a mixed-use building on Eglinton Street in Cork, Ireland. Built during Ireland’s Celtic Tiger era, construction finished in early September 2008. When it opened, it was the tallest building in the Republic of Ireland and the tallest in Cork. In 2018, Capital Dock in Dublin surpassed it, so The Elysian is now the third tallest building in Ireland and the tallest in Cork.

Site description
The complex includes several connected six- to eight-story buildings, with a 17-story tower on the southwest corner. The tower rises about 68.3 meters to the top floor. The site also features a Japanese garden and a two-level basement garage.

Development and history
The Elysian opened during Ireland’s economic crisis. By April 2009, 80% of its 211 apartments remained unsold and about half of the commercial units were vacant. It earned the nickname “The Idle Tower” and was described as a Mary Celeste adrift in the recession. There is a mandatory annual management fee of around €4,000 per apartment.

In 2010, the developer’s debts were taken over by the National Asset Management Agency (NAMA). The project was later sold in 2014 to Blackstone Group’s Carbon Finance for about €1.1 billion. In December 2014, an Aldi supermarket opened on the ground floor. A dispute between the previous developer and Carbon was settled in February 2015, with Carbon retaining ownership of The Elysian. By May 2017, 180 of the 211 apartments were let, and the remaining 31 were being furnished. In 2017 reports stated all apartments were fully let. In April 2018, Blackstone sold the complex to Kennedy Wilson for about €87.5 million.

See also
- Riverpoint
- George’s Quay Plaza
- List of tallest buildings in Ireland