Under my Department's Serviced Sites Fund (SSF), €310 million has been allocated to provide infrastructure to support the delivery of more affordable new homes for purchase or rent in those areas where local authorities have identified an affordability challenge and the viability to deliver homes and below open market purchase prices.
Funding under the SSF is available for new-build homes on local authority land. With a maximum of €50,000 funding available per home, at least 6,200 more affordable homes, to buy or rent at below market values, can be facilitated. To date, Serviced Sites funding of €127 million has been approved in principle in support of 35 projects in 14 local authority areas, which will assist in the delivery of almost 3,200 affordable homes.
The requested details for these projects is available on the Rebuilding Irelands website as follows;
Call 1 https://rebuildingireland.ie/news/minister-murphy-gives-the-go-ahead-for-ten-local-authority-sites-for-affordable-housing-under-the-serviced-sites-fund/
Call 2 https://rebuildingireland.ie/news/minister-murphy-approves-funding-of-e84m-to-support-delivery-of-1770-affordable-homes-under-the-ssf/.
SSF projects involve public infrastructure developments which pave the way for associated housing development. This requires extensive design, planning, public consultation and procurement processes in advance of the projects moving to construction. Reflecting the fact that the majority of SSF projects are currently at the detailed design and planning stages, the funding drawdown for constructions costs to date is approximately €2 million. There are currently two SSF projects on site; the Boherboy Road project in Cork City, with the first phase of this anticipated to be delivered in the first quarter of 2021 and the Enniskerry Road project in Stepaside, which will be one of the Cost Rental pilot projects in the State.