The Minister for Housing, Local Government and Heritage, and local Fingal TD, Darragh O’Brien, has given approval for just over €2M in funding under the Cost Rental Equity Loan (CREL) for 14 new cost rental homes in Donabate, North County Dublin.
The homes which will be delivered at Dunrovin, Cobbe Court, Donabate, will consist of one and two bedroom apartments and will be rented to tenants at rates which are approximately 30% below the local market rate.
Commenting Minister O’Brien said, “The delivery of cost rental homes is happening and it’s making a positive difference. Cost Rental is a new form of housing in Ireland. Cost Rental is State backed and the tenancies are long-term and secure. Tenants are charged a rent that covers the cost of delivering, managing, and maintaining a home only, making homes more affordable.
These 14 Cost Rental homes in Donabate represent just one development which is in the pipeline in Fingal. To date I have given approval for 209 cost rental homes in North County Dublin, backed by €22M, with the Land Development Agency (LDA) set to deliver hundreds more in our area.
This development will provide families and individuals with secure, affordable rental accommodation, and, as we deliver more of these homes at scale, will help make Ireland’s housing market more affordable overall. Under Housing for All, a healthy pipeline of cost rental housing is building up and more developments are due to come on stream shortly.
“I’d like to commend Tuath Approved Housing Body (AHB) for bringing forward this development and the many others they have in the pipeline across the country,” he concluded.