I was delighted to see Technological University of the Shannon: Midlands Midwest open its doors at the start of the month to become the third technological university in the State. The communities in areas where there are campuses of the new TU will benefit from a range of benefits over time. The universities will attract more students, they will help communities create and retain skills and employment, and they will act as a catalyst for research, innovation and enterprise. This will be critical to fostering our SME sector as well attracting increasing levels of investment, including Foreign Direct Investment, and so will contribute to regional and socio-economic development.
As a country, we need to dramatically increase the supply of all types of housing and accommodation, including student accommodation.
That is why the Government has launched Housing for All, led by the Minister for Housing, Local Government and Heritage. This sets out a series of actions which will be delivered to fix the housing crisis. The plan is backed by the largest ever housing budget in the history of the State to transform our housing system, in excess of €20bn
The development of purpose built student accommodation is an important part of increasing the attractiveness of the new TU to prospective students, as well as contributing to the overall supply of housing and accommodation.
The Government’s Housing For All plan contains a specific commitment to support TUs in their ambitions to develop purpose built student accommodation, where such a requirement exists, through access to appropriate financing. Housing For All also includes a specific action to legislate for Technological Universities to be allowed borrow from the Housing Finance Agency.
The development of student accommodation by technological universities would lead to an increased supply of student accommodation and relieve pressures on the broader private rental market. My officials are working closely with colleagues in the Department of Housing, Local Government and Heritage, and with the technological sector, to progress these commitments.
