The Land Development Agency’s (LDA) Project Tosaigh is a market engagement initiative to unlock land with full planning permission that is not being developed by private sector owners due to financing and other constraints and use it to accelerate the supply of affordable housing.
It allows the LDA to supplement the State lands it is already working on and accelerate the delivery of cost rental and affordable purchase homes by unlocking private land that is ready to be developed but where construction has stalled or not commenced.
The first strand of Project Tosaigh involved an expressions of interest (EOI) process, launched in November 2021, to engage builders and landowners in forward purchase agreements, with the intention of securing stock in certain developments in the shorter term.
This process targeted lot sizes of c. 150 homes and upwards in the Greater Dublin Area (including Dublin City, South Dublin, Dun Laoghaire Rathdown, Fingal, Meath, Kildare, Louth and Wicklow), Cork, Limerick, Galway and Waterford via forward purchasing agreements.
The LDA has advised my Department that their project team has evaluated a significant proportion of the proposals over the past 4 months, focusing on those with potential for delivery in 2022 first, and advanced a number of them to pre-contract stage (i.e., Commercial Heads of Terms exchanged with the counterparties).
In parallel, schemes submitted where delivery would be expected to begin in 2023 and thereafter are being reviewed and engagements with parties in respect of those schemes are now underway.
The target under Project Tosaigh is the delivery of 5,000 new homes by 2026 for affordable cost rental or sale to eligible households under affordable purchase arrangements.