The National Asset Management Agency (NAMA) is at present playing an ongoing role in the delivery of social housing. To the end of September 2015, a total of 1,600 NAMA residential properties had been delivered for social housing use, comprising 1,241 completed properties and a further 359 that have been contracted and where completion work is ongoing. A further 486 properties are considered as being active transactions whereby terms are agreed or active negotiation is on-going by all parties concerned or where a detailed appraisal is being carried out. An additional 440 properties are to be further appraised. Overall, I expect that in excess of 2,000 units will be secured for social housing purposes from this engagement with NAMA . Full details of units offered and delivered under this process including a breakdown by Local Authority is available on the website of the Housing Agency at www.housing.ie
Under this process 827 units were identified in the Dublin City Council area and 399 had demand confirmed by the Council , of which 377 had been delivered to the end of September 2015. In the Fingal County Council area, 270 units were identified and 105 had demand confirmed by the Council , of which 60 had been delivered to the end of September 2015.
The process of reviewing units previously deemed unsuitable by local authorities is on-going. Local Authorities, particularly those in high demand areas, are continually reviewing the list of available NAMA properties.
In addition, NAMA is funding the construction of new residential properties to help meet demand in the major urban centres. The overall programme will be funded from NAMA’s own resources and will lead to the development of an estimated 20,000 units by 2020, mainly in the Greater Dublin area where the current residential supply shortage is most acute. Residential developments funded by NAMA are subject to the same planning and regulatory requirements as all other developments and this includes policy relating to Part V of the Planning and Development Act 2000. As such, I expect 10% of the output of this investment by NAMA, or about 2,000 units, to become available for social housing.
