The Minister for Housing, Local Government and Heritage, Darragh O’Brien TD, has today (Monday 8th February) given approval in principle for Ireland’s first Cost Rental Homes, delivering on a key commitment in the Programme for Government, under Housing for All.
In Budget 2021, €35 million was made available to Approved Housing Bodies (AHBs) to deliver approximately 350 cost rental homes in 2021 at rates which are a minimum 25% below open market values. An additional 50 cost rental homes at Enniskerry Road, Dun Laoighaire Rathdown are also due to be completed this year supported by the Department’s Serviced Sites Fund.
Following a competitive assessment process, approval is being given today to three AHBs, Clúid, Respond and Tuath, for a total of 390 cost rental homes. These developments are spread across Dublin, the GDA and Cork, with precise locations to be published on completion of commercial and contractual arrangements. Subject to the application, the Housing Finance Agency has also made financing of up to €100m available to support schemes approved under this measure.
Read the full press release here