The Peadar Kearney House building, located on Railway Street, consists of 56 homes as well as a community facility and underground car parking.
The scheme is managed by Circle Housing Association on behalf of the Council.
The Lord Mayor of Dublin, Christy Burke, and Alan Kelly TD, Minister for the Environment, Community and Local Government, opened the new building.
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Work started on Peadar Kearney House in January 2013 with the first phase handed over to Dublin City Council in May 2014 and the final phase completed in September 2014.
Dublin's Lord Mayor said: "It gives me great pleasure to be here today to open Peadar Kearney House. I want to take this opportunity to commend the work of all involved in bringing this project to fruition.
"This complex is part of an ongoing redevelopment of the North Inner City area and I know that it will add greatly to the area and enhance the lives of many of the tenants living here."
(CD/JP)
