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THE LAND DEVELOPMENT Agency (LDA) has announced plans to deliver 542 cost rental homes in Dublin in partnership with the O’Flynn Group.
The new A-rated apartments are being delivered as part of Southwest Gate, a residential scheme on the Naas Road in Dublin 12.
The granted scheme is being developed by the O’Flynn Group and, when completed, will provide for 1,140 new homes along with additional uses such as a hotel, ancillary retail and commercial accommodation.
A further three acres are also available for future development.
The first phase of 542 new homes is being delivered by the LDA and the O’Flynn Group through the Project Tosaigh home builder partnership initiative, which aims to deliver 8,000 affordable homes for purchase or rent by 2028.
This initiative sees the LDA partner with private home builders and provide financial stimulus required to ensure the construction and completion of new homes.
The completed homes are then owned by the LDA and made available as cost rental or sold by the LDA in partnership with local authorities through affordable purchase schemes.
In this case, all 542 new homes will be made available as cost rental.
Cost rental is a relatively new tenure, which provides a long term rental option with rents at least 25% below market rates.
It’s designed to assist those who do not qualify for social housing or other state housing supports, but who are struggling to afford to rent in the private market.
Separately, this phase of the development will also see O’Flynn Group deliver 52 Social homes.
The LDA remarked that the development is “well-located with excellent connectivity to Dublin City Centre”.
Taoiseach Micheál Martin said the development at Southwest Gate is a “significant step in increasing the supply of affordable and social housing in Dublin”.
He added: “Developments of this scale are essential to meeting demand and building sustainable communities in well-connected locations.”
Meanwhile, Housing Minister James Browne remarked that he is “being relentless when it comes to driving on with increasing housing supply”.
“The homes being provided here in Southwest Gate is further evidence that we are accelerating the delivery of high-quality homes in places where people want to live,” said Browne.
He added: “There are many indicators out there now telling us that momentum is building but I am determined that we keep our foot on the pedal, continue to drive reforms and tackle our housing shortage”.
Elsewhere, John Coleman, Chief Executive of the LDA, welcomed the partnership with O’Flynn Group and added that “projects like Southwest Gate are playing an important role in addressing the pressing demand for affordable and secure rental accommodation in Dublin”.
The LDA is a commercial, State-sponsored body that was established to coordinate land within public control that could provide affordable and social housing.
Its Project Tosaigh is a market engagement initiative that aims to accelerate delivery of housing on sites with full planning permission that are not currently being developed by private sector owners due to financing and other constraints.
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