Latest news with #costrental
BreakingNews.ie
27-05-2025
- Business
- BreakingNews.ie
Land Development Agency to deliver 320 cost-rental apartments in Co Dublin
The Land Development Agency (LDA) plans to deliver more than 320 new apartments in Shankill, Co Dublin. The development at Woodbrook, which will have access to a new Dart station, will include 102 one-bed and 226 two-bed homes. Advertisement All of the apartments will be made available as cost rental. The agency said the apartments would be delivered in partnership with property development company Castlethorn through the LDA's Project Tosaigh initiative. This is where the agency partners with private homebuilders, providing the financial stimulus required to initiate construction and complete new housing projects. The completed homes are then owned by the LDA and made available as cost rental or sold by the LDA in partnership with local authorities through affordable purchase schemes. The development will be next to Woodbrook Dart station, which is due to open this summer In this case, all of the 328 Woodbrook apartments will be made available as cost rental. Cost rental is a relatively new tenure, which provides a long-term rental option with rents at least 25 per cent below market rates. Advertisement Cost rental is designed to assist those who do not quality for social housing or other State housing supports, but who are struggling to afford to rent in the private market. The apartments are part of Castlethorn's Woodbrook development, which includes 685 homes and has the potential to deliver an additional 500 homes. The development will also feature amenities including a creche, a primary school and neighbour centre. The Woodbrook apartments are being delivered in two blocks over six storeys and are due to be completed by 2026. Woodbrook Dart station is due to open this summer. Ireland Targets for cost-rental properties expected to be... Read More John Coleman, chief executive of the LDA, said the development was in an accessible and attractive location for renters. "These new homes will play an important role in addressing demand for affordable, secure rental accommodation in south Dublin," he said. Joe O'Reilly, chief executive of Castlethorn, said the firm was "delighted" to partner with the LDA on the project. "The proximity to the new Dart station, high-quality design, and inclusion of community facilities make this a highly attractive offering. We look forward to delivering these sustainable A-rated homes and helping to establish a new community that will thrive for generations to come."
Irish Times
24-05-2025
- Business
- Irish Times
Almost 2,000 applications for just 20 Dublin cost rental homes
Almost 2,000 people have applied for just 20 cost-rental homes in north Dublin , with applications open for another week. There have been 1,857 applications for 20 one- and two-bedroom apartments built by approved housing body (AHB) Respond at Griffin Point in Clongriffin, Dublin 13 . Applications opened on its website on Tuesday and will remain open until May 30th. Rent for the one-bedroom apartments will be €1,326 per month, while the two-bedroom units are €1,478 per month. READ MORE Griffin Point will have a total of 64 cost-rental homes in its wider 397-unit development when completed in February 2026. Cost-rental homes are designed for people who do not qualify for social housing but have a household net annual income of less than €66,000. [ Ireland's rising rents: 'Our budget would have been €1,300 a month, there isn't even anything listed for that' Opens in new window ] Rents must be 25 per cent lower than regular market rents in the area and are based on the cost of building, managing and maintaining the homes. Tenants also have long-term security, with leases of several years' duration available. The homes are delivered by AHBs, local authorities and the Land Development Agency (LDA) and do not include any profit for a developer. The local authorities and AHBs apply for government funding and grants to help cover the cost of building or buying these homes. The State missed its target for delivery of social homes last year by almost 20 per cent, with just 10,595 new-build social homes delivered, compared with its target of 12,930. Responding to the figures when they were published by the Department of Housing in April, Minister for Housing James Browne acknowledged the completions had fallen short of the targets and pointed to the performance of local authorities. He said he would publish quarterly performance reports that would 'clearly outline' how each local authority is delivering on individual targets for new-build social housing. However, the report found a record level of cost-rental homes were delivered by AHBs last year, seeing the figure more than double to more than 1,200 homes. A total of 3,860 cost-rental homes have been delivered in the State since the scheme was launched.
BreakingNews.ie
14-05-2025
- Business
- BreakingNews.ie
Plans for almost 100 new cost rental homes approved in Cork suburb of Blackrock
Plans for almost 100 new homes in the Cork suburb of Blackrock which will be made available on a cost rental basis have been given the green light. An Bord Pleanála upheld last year's decision of Cork City Council to grant planning permission to development firm, Lyonshall, for the construction of 90 residential units on a 0.63-hectare site on Skehard Road. Advertisement The board rejected appeals against the council's ruling by two local families who claimed the proposed development was out of proportion and would visually dominate other homes in its immediate vicinity. They complained that the density and height of the apartment blocks were excessive. The site – which is adjacent to the SuperValu supermarket in Blackrock – is currently occupied by Villa Maria, a vacant two-storey house, which will be demolished as part of the plans. The project is being developed in conjunction with voluntary approved housing association, Tuath Housing, as a cost rental scheme subject to funding approval from the Department of Housing. Advertisement It will comprise 74 apartments in three blocks up to five storeys in height as well as 12 townhouses and four duplex units. Under the cost rental scheme, the rent charged will be a maximum of 35 per cent of a tenant's income. Lyonshall successfully appealed a condition imposed by council planners which directed it to omit one level from the apartment blocks with the loss of 18 units. A planning inspector with An Bord Pleanála had also recommended the omission of one storey with the observation that the acceptability of five-storeys was 'very finely balanced' and would represent 'an abrupt transition in scale.' Advertisement However, the company said the condition was unnecessary and claimed that the reduced number of units would threaten the viability of the development. In response to the appeals, Lyonshall pointed out that the Cork City Development Plan sets height targets for areas across the city. It noted that the development was within the target range for Blackrock and Ballintemple of between three and five storeys. Subject to compliance with a number of planning conditions, the board said the development was acceptable in terms of design, density, unit mix, residential amenity for future residents as well as pedestrian and traffic safety. Advertisement The board also observed that it would promote 'the efficient development of housing on an accessible and sustainable site.' Planning documents submitted by Lyonshall show that Blackrock was the second most preferred location after the city centre among almost 13,500 applicants for social housing in Cork. The company said there was 'a demonstrable need for social and affordable housing at this location' as well as noting that there was an 'overwhelming and urgent demand' for small residential units. Cork City Council has previously rejected plans for a mixed-used development including an Aldi supermarket on the same site by the same developer in 2021 because of its 'visually obtrusive' impact and overshadowing of neighbouring properties. Local Fianna Fáil councillor, Terry Shannon, said he had no objection to the development in principle but claimed its height was 'excessive' and its scale was 'quite overpowering.' Independent councillor, Kieran McCarthy, said he believed the proposal 'packs too much housing into such a small space,' while his Labour colleague, Peter Horgan called for the plans to be reviewed in order to replace the apartment blocks with more duplex-style housing.
