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Official Launch of Cost Rental Homes in Kilcarbery Grange

We were delighted to welcome the Housing Minister Darragh O’Brien, to Kilcarbery Grange on 23rd August 2022 to officially launch the release of 74 one and two-bed cost rental apartments in our new scheme.

Standing 5 storeys high, marking the entrance to Kilcarbery Grange these 1- and 2-bedroom apartments offer modern, spacious accommodation to its new tenants.  Kilcarbery Grange, when complete, will be a brand new community, which will include a new civic square, a community building, a creche, an exciting local retail space as well as an abundance of open green space to enjoy. 

These apartment blocks were sold in their entirety to Tuath, one of several Approved Housing Bodies (AHBs) in the state.  There is a budget of €35 million set aside for Approved Housing Bodies (AHBs) for these cost rental cost-rental schemes where the rents are set at 25% less than open market rents in the area.

Speaking to journalists at the launch, the minister acknowledged that the housing rental crisis is “acute” but progress is being made with over 900 cost-rental units approved already. 

“Look, it’s acute, there is no question of that. We’ve had an issue of under supply across all channels of housing for the last 10 years. There’s no question about that and it’s made the situation much more difficult, but what is good and what is positive is the cost-rental that we have here now, and it didn’t exist 12 months ago.

“We’ll have hundreds of tenancies in place. That’s important for those hundreds of families and thousands of renters. Do we need to do more? Absolutely we do,” O’Brien toldreporters.

First Home Scheme

In addition to the cost rental scheme the government has also launched the First Home Scheme with the aim of further increasing home ownership for first time buyers and individuals qualifying under the “fresh start” principle, who otherwise would not be able to afford to buy a home. 

The Minister also confirmed today that this scheme has made a successful start; “we’ve had “hundreds, literally hundreds of applications already. And our first approval where contracts have been issued. And we’re going to build more social homes this year.”

Despite the challenges facing the construction industry in the past number of years, with the covid pandemic, increased costs in the sector and rising inflation, the Minister remains confident that the 24,600 new homes target will be exceeded.

He said there are regular meetings with the Taoiseach, Tánasite and the Cabinet Sub Committee on Housing “to make sure that we keep an eye on Housing for All and how it’s delivered”.

“This the single biggest intervention that the state has ever made in housing in the history of the state. You don’t turn it around overnight.” he added.

“The Government is providing €4 billion for social and for affordable homes with multi annual programs”, said O’Brien.