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Who is let build apartments in an area that has been consistently flooded?

Centaur Street has been flooded in 1995, 1996, 2000, 2008 (Jan)
(Images courtesy of www.floodmaps.ie)

Before (as seen in the Brochure) Estate Agent

 After

(Excuse the blurry camera.)

The yellow tractor is ferrying residents to and from the building as power and water have been cut off.

(c) Irish Times - Taken by Frank Miller

I certainly wouldn’t want to persue a “commercial opportunity” there especially not for €30,000pa