As set out in the Strategy for the Rental Sector published in December 2016, the commitment to introduce affordable rental is to be progressed through kick-starting supply in rent pressure zones. Lands held by local authorities in rent pressure zones are to be brought to market on a competitive tendering basis, with a view to leveraging the value of the land to deliver the optimum number of units for rent, targeting middle income households, in mixed tenure developments.
The cost of providing rental units is to be permanently reduced by lowering the initial investment and development costs for providers - Approved Housing Body or private - allowing the rental units to be made available at below market prices without the need for ongoing rental subsidies.
The local authorities concerned will identify a number of sites with potential and will move forward, as soon as possible, to issue calls for proposals from parties interested in developing projects. As speed of delivery will be critically important, appropriate licence arrangements, incorporating clear timescales for delivery, will be a key feature of the process.
This programme is being co-ordinated with the dedicated measures in Rebuilding Ireland to accelerate housing output from the Major Urban Housing Delivery Sites, including support from the Local Infrastructure Housing Activation Fund (LIHAF), where necessary.
