Holly Cairns
Question:306. Deputy Holly Cairns asked the Minister for Further and Higher Education, Research, Innovation and Science the steps he is taking to respond to the shortage of student accommodation. [45932/21]
View answerThursday, 23 September 2021
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The National Student Accommodation Strategy is designed to ensure that there is an increased level of supply of purpose built student accommodation to reduce the demand for accommodation in the private rental sector by both domestic and international students attending our Higher Education Institutions (HEIs). Several of the actions in this strategy centre around ensuring that HEIs have access to low-cost financing in order to support their building of student accommodation.
One of these actions involved the introduction of legislation to empower the Housing Finance Agency (HFA) to lend directly to HEIs for the development of student accommodation. This legislation was commenced in 2017, and so far three universities - TCD, UCC and UCD have had a total of €157 million in loans approved by the HFA, which will provide more than 1,400 new student bed spaces.
In June I, along with my colleagues the Minister for Finance and the Minister for Housing, Local Government and Heritage, announced that €75 million of financing had been successfully sourced for the Council of Europe Bank for the building of student accommodation in universities.
Housing For All, the Government's recently announce plan for housing, contains a commitment to support technological universities to develop purpose-built student accommodation where such a requirement exists, through access to appropriate financing, and a specific action in relation to legislating to allow for Technological Universities to borrow from the Housing Finance Agency. My officials and I will continue to work with colleagues in the Department of Housing, Local Government and Heritage to advance this.