Redevelopment of the centre was a major element of the Ballymun Masterplan from 1997, and was to be private sector-led. 53% of the centre and surrounding site was sold to major developer Treasury Holdings for 6 million pounds in 2000, with the local authority retaining the rest. As of 2000, the centre was to be redevloped by 2005, but there were delays, and it was 2009, after financial crisis had struck Ireland, before the developer secured permission for a complex to be called Springcross, involving a planned investment of 800 million euro to provide more than 70 shopping and office units, cinema and other entertainments, dining facilities, a new public library branch, and a creche. Construction was planned for 2010, but by then the site had been taken over by NAMA, and the project was unable to proceed.