Dáil Éireann Debate, Thursday - 9 November 2023
161. Deputy Willie O'Dea asked the Minister for Housing, Local Government and Heritage for an update on the secure tenancy affordable rental (STAR) investment scheme; and if he will make a statement on the matter. [48891/23]
View answerThe new Secure Tenancy Affordable Rental investment scheme (STAR) launched on 18 July 2023. STAR aims to invest up to €750m in the delivery of over 4,000 Cost Rental homes by 2027, to be let at a minimum of 25% below comparable market rental levels in high demand urban areas. The scheme provides equity investment up to a maximum of €175,000 per unit in Dublin and €150,000 per unit in the rest of Ireland, with an additional €25,000 available for meeting sustainability criteria,
The STAR investment scheme is open to public bodies and private market operators and is being managed by the Housing Agency on behalf of my Department. The Housing Agency has been accepting Expressions of Interest from proposers for eligible schemes since 1 August 2023. To date 16 applications have been received under the Scheme.
