Brian Stanley
Question:159. Deputy Brian Stanley asked the Minister for Housing, Local Government and Heritage the likely or estimated number of cost-rental units that his Department will approve within the next 12 months. [46317/21]
View answerTuesday, 28 September 2021
Questions (159)
Written answers
Under Action 4.12 of Housing for All, in the period to December 2021 local authorities will be preparing Housing Action Delivery Plans to include social and affordable housing where necessary (affordable purchase and cost rental). This will allow each Local Authority to determine the affordability constraint in their area based on the Housing Need and Demand Assessment.
Over the period 2021 to 2030, it is intended that approximately 18,000 Cost Rental homes will be delivered by Local Authorities, Approved Housing Bodies and the Land Development Agency. This represents an average of 2,000 per year. In building to this scale, the State will provide certain focused funding supports to help delivery partners provide rental homes that target affordable rents at levels in the order of 25% below market rents.
A range of work is already ongoing to deliver Cost Rental housing, with State support, through a number of avenues. Under Budget 2021, €35 million was allocated to the Cost Rental Equity Loan (CREL) scheme, designed to facilitate Government loans to Approved Housing Bodies, to finance up to 30% of the capital costs of new homes for Cost Rental. My Department is utilising the expertise of Local Authorities, the Land Development Agency (LDA) and the Approved Housing Bodies (AHBs), to deliver initial Cost Rental projects.
A total of 390 Cost Rental homes were approved under this first tranche of CREL funding. The first 25 of these homes, and the first Cost Rental homes to be designated in Ireland, were acquired by the Clúid AHB at Taylor Hill, Balbriggan, and the first tenants moved in on 28 August 2021. In addition to these 390 homes, another 50 Cost Rental apartments are currently being constructed at Enniskerry Road, Stepaside, alongside 105 social housing units. Construction is due to be completed in Q4 2021, and the tenant selection process is underway.
Question No. 160 answered with Question No. 142.