Dáil Éireann Debate, Wednesday - 27 January 2021
303. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage the serviced sites fund allocation for a social and affordable housing project (details supplied) in Dublin 8; and the restructuring of the EIB loan finance being discussed or that has been agreed by his Department with Dublin City Council. [3575/21]
View answerDublin City Council has been granted Approval in Principle for Serviced Site Funding of €18,750,000 in respect of the proposed development St. Michael's Estate development at Emmet Road, Dublin 8. This funding will support the delivery of 375 cost rental homes on this site. These homes will form 70% of the total homes in the development. The remaining 30% of homes will be social housing and will be fully funded by the Department subject to the normal approval process.
In terms of direct funding for the Cost Rental homes, in addition to SSF funding it is envisioned that Dublin City Council will secure a long-term, low-interest loan. The European Investment Bank (EIB) has expressed strong interest in supporting Cost Rental at Emmet Road, given the EIB's track record of supporting similar public housing projects across Europe.
I am informed that a representative from the EIB is supporting the work of Dublin City Council and engages on an ongoing basis with the Project Board overseeing the project.
