A site previously earmarked for the State's first 'super prison' is likely to be developed for housing.
Spending on the vacant site at Thornton Hall in north County Dublin now stands at €51m since it was bought in 2005.
The bulk of the site is to be offered to the new Land Development Agency to build houses, according to the Irish Times.
It was set up by the Government to build 150,000 new homes over the next 20 years across the country.
"It's a no-brainer, and there are many other sites like Thornton Hall all across the country that are serviced and that are ready to go," he said.
"Nothing has happened with Thornton Hall for the last number of years," he said.