If the apartments, living space in the city was there I guarantee you'd get people to rent them.
As far as Coughlans beer garden gigs go, it was a stupid idea in an area unsuitable for them. Simples. Outdoor gigs most of the year in Ireland is nuts and late night outdoor gigs in a residential area is double nuts. Have the gig inside in the purpose built area they already have.
I get that there are a number of houses nearby, and someone said that the music from Coughlans was blaring so much it could be heard in Turners Cross which is nuts, but generally I wouldn't have classed Douglas Street generally as a residential area.
Where I was living there was a bar nearby that had a beergarden where you could late at night hear carousing but it's kinda to be expected tbh. It's a drawback but when there's snow or ice on the ground and you can't go in town it's great to have a pub close at hand just to get out of the house with yer missus and have a convivial glass of wine or beer.