Social and Affordable Housing Funding

Dáil Éireann Debate, Thursday - 21 September 2017

Thursday, 21 September 2017

Questions (246)

Dara Calleary

Question:

246. Deputy Dara Calleary asked the Minister for Housing, Planning and Local Government the way in which the €160 million in European Investment Bank funding approved in June 2017 will be used to provide social and or affordable housing; the number of houses that will be built; the local authorities in which these developments will take place; the timescale involved; and if he will make a statement on the matter. [40073/17]

Written answers

Minister for Housing, Planning and Local Government

In June 2017, the European Investment Bank agreed a framework loan arrangement of €160 million to provide financing for the three project bundles under the Social Housing PPP Programme.  The EIB will work with the preferred bidder, when selected, for each project bundle in respect of the provision of loan finance to support delivery of this important social infrastructure.

The Social Housing PPP Programme involves an investment with a capital value of €300 million.  It is to deliver 1,500 social housing units in total, via three bundles.  The first bundle, which comprises six PPP sites, is to provide over 500 units in the Greater Dublin Area.  Two of the sites are located in the Dublin City Council area with one each in the County Council areas of South Dublin, Kildare, Wicklow and Louth.

The second bundle, comprising eight PPP sites which are to provide over 450 units across the country, was announced in June 2016.  Three of the sites are located in the Cork County Council area, with one each in the Galway City Council and Waterford City & County Council areas.  There is a further one site in each of the County Council areas of Clare, Kildare and Roscommon.

The identification and selection of sites for the third project bundle is currently underway and is expected to be finalised in the coming months.

Each individual bundle of sites takes an estimated 37-48 months to deliver in total, including planning, procurement and construction.  It is expected that construction would commence in 2018 on the first bundle of sites, with units becoming available from 2019.