Dáil Éireann Debate, Thursday - 22 September 2022
245. Deputy Michael Healy-Rae asked the Minister for Housing, Local Government and Heritage the number of cost-rental schemes that have been approved in each of the months April to August 2022; the number of units involved; the locations of each these schemes; and if he will make a statement on the matter. [46413/22]
View answerThe Housing for All Strategy delivers on the Programme for Government commitment to step up housing supply and put affordability at the heart of the housing system, with an ambitious target of 300,000 homes over the next decade for social, affordable and cost rental, private rental and private ownership housing. 18,000 Cost Rental homes will be delivered between now and 2030, to be facilitated by Approved Housing Bodies (AHBs), Local Authorities and the Land Development Agency (LDA).
AHBs will be supported by Cost Rental Equity Loan (CREL) funding and Local Authorities will be able to avail of funding for Cost Rental delivery through the Affordable Housing Fund (AHF). The LDA will also deliver Cost Rental on its own portfolio of sites or through acquisitions under Project Tosaigh.
To date, approval in principle has been confirmed for approximately 900 Cost Rental homes to be delivered by AHBs under the CREL scheme in the period to 2023. The necessary financial and commercial arrangements in relation to a number of these projects are being completed by the AHBs concerned. Full details of the projects, including specific locations, housing typologies and cost-covering rents cannot be made public until these arrangements are concluded.
In addition to homes funded through the CREL scheme, additional Cost Rental properties are being developed by Local Authorities through the Affordable Housing Fund (AHF). The central Exchequer funding through the AHF will help to facilitate a Local Authority-led financing structure for Cost Rental, which will provide important opportunities for Local Authorities to directly deliver Cost Rental homes on their own lands, such as at Emmet Road in Dublin City.
In respect of the LDA, details of the work that the LDA is progressing on public lands that will deliver affordable purchase and cost rental can be found here: lda.ie/projects-schemes/
The LDA will also deliver Cost Rental under Project Tosaigh, which is a market engagement initiative to unlock land with full planning permission that is not being developed by private sector owners. Full details of the initiative can be found here: lda.ie/home-building-partnership/
