Fast-track planning permission is to be used to provide thousands of new homes in Dublin 4.
The Government has approved city council plans to build as many as 3,000 units on the old Irish Glass Bottle site in Poolbeg.
The land, which is half an hour's walk from the city centre, was bought 10 years ago for €400m, but is now worth only an eighth of that.
The Irish Independent claims 10% of the 34-hectare development will be earmarked for social housing.
Housing Minister Simon Coveney said construction could begin next year.