Dáil Éireann Debate, Wednesday - 2 March 2022
99. Deputy Patricia Ryan asked the Minister for Housing, Local Government and Heritage if he will supply the details of any proposed cost rental homes in County Kildare; and if he will make a statement on the matter. [11917/22]
View answerUnder the Housing for All targets, approximately 18,000 Cost Rental homes are to be delivered by Local Authorities, Approved Housing Bodies (AHBs) and the Land Development Agency (LDA) by 2030. Although the COVID-19 pandemic and construction restrictions impacted on delivery timelines in 2021, a scale up in Cost Rental delivery will occur in the near-term.
Under Budget 2022, €70 million was allocated to the Cost Rental Equity Loan (CREL) scheme for Cost Rental delivery by AHBs in 2022. Over 900 homes have been approved for funding under the scheme to date, with a total of almost 4,000 CREL-funded homes being targeted for delivery over the 5 years to 2026.
40 CREL-funded Cost Rental homes were tenanted by the Clúid AHB at Barnhall Meadows in Leixlip, Co. Kildare in December 2021, where cost rents charged are approximately 40% below comparable market rents in the area. A further 16 Cost Rental homes will be tenanted in this development by the end of Q2 2022.
Under the Second Call for Proposals for CREL funding, issued to AHBs in October 2021, I have given approval in principle to the allocation of €53.6 million for the provision of 521 Cost Rental homes across 11 sites in 7 Local Authority areas, 486 of which are scheduled to deliver in 2022. Three of these 11 sites, comprising a total of 186 Cost Rental homes, are currently scheduled to be delivered in Kildare in 2022. Details of the funded projects, including locations, unit types and cost-covering rents will be released when the relevant AHBs have completed necessary financial and commercial arrangements.
These properties will make a real difference for people who are struggling to pay rents in the private market. Of the 65 homes delivered under CREL to date, the tenants are paying cost rents that are approximately 40% lower than comparable market rents in their areas.
