Dáil Éireann Debate, Thursday - 26 January 2023
112. Deputy Brian Stanley asked the Minister for Housing, Local Government and Heritage if the Croí Cónaithe (cities) project has a limit on the total value of subsidy it will provide to successful applicants per unit. [3582/23]
Amharc ar fhreagraThe Croí Cónaithe (Cities) Scheme supports the building of apartments for sale to owner-occupiers. The Scheme aims to bridge the current “viability gap” between the cost of building apartments and the market sale price (where the cost of building is greater). The scheme is targeted principally at activating planning permissions already in place for such homes.
The funding available per apartment will be the viability gap calculated for each apartment. It will be fixed when the extent of the gap is finally confirmed but will be subject to a ceiling per apartment of €120,000.
Achieving viability outside Dublin, where market prices are significantly lower but apartment development costs remain similar, is a challenge. The scheme therefore provides that this maximum funding can be exceeded, by no more than 20%, where a calculated viability gap exceeds €120,000 in Cork, Limerick, Galway and Waterford.
