Press release originally issued by Department of Housing, Local Government and Heritage on 17th November 2023
PRESS RELEASE
Friday November 17th 2023
The Minister for Housing, Local Government and Heritage, Darragh O’Brien TD has announced the approval of another proposal under the Croí Cónaithe Cities Scheme, for the development of 274 apartments in Blackrock Villas, Cork. This development is the third one to be approved under this scheme and it is the second one in Co. Cork.
Under the scheme to date, contracts have been signed for:
- The delivery of 53 owner occupier apartments for sale on the open market at Woodward Court, Glencairn, Murphystown Way, Dublin 18 which is being developed by Park Developments
- The delivery of 68 owner occupier apartments for sale on the open market at Castletreasure/Maryborough, Carr’s Hill/Carrigaline Road, Douglas, Cork which is being developed by Cairn Homes
- The delivery of 274 owner occupier apartments for sale on the open market at Blackrock Villas, Blackrock, Cork which is being developed by Glenveagh
The Croí Cónaithe (Cities) Scheme supports building 5,000 apartments for sale to owner-occupiers up to 2026. 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 Scheme launched in May 2022 with an Expressions of Interest process, which is being managed and administered by the Housing Agency on behalf of the Department.
The development at Woodward Court, Glencairn, Murphystown Way, Dublin 18 comprises 53 apartments with a mix of 1, 2 and 3 bed apartments.
The development of 68 apartment at Carr’s Hill, Carrigaline Road, Douglas, Cork will comprise 68 apartments with a mix of 1 and 2 bed apartments.
The development at Blackrock Villas, Blackrock, Cork will comprise 274 apartments with a mix of studio, 1, 2 and 3 bed apartments.
The Housing Agency are continuing to appraise additional proposals that have been received in the first and second calls for expressions of interest under the Scheme.
Commenting Minister O’Brien said:
“This is the third proposal under the Croí Cónaithe Cities Scheme which I have approved and a clear indication of the Government’s commitment to address the current “viability gap” between the cost of building apartments and the market sale price.
“I’d like to commend those developers who have engaged with the scheme at an early stage. Their foresight and willingness to embrace this new approach is very much welcome.
“We want to increase the supply of urban, owner-occupier apartments and provide those who wish to purchase a home with a greater choice. Giving people the opportunity to buy a home in our cities will help make them more vibrant. I look forward to making further announcements in relation to other proposals in the near future.”
The Housing Agency’s Chief Executive, Bob Jordan, said:
“Under the Croí Cónaithe (Cities) Scheme, The Housing Agency is working to increase the supply of new apartments for home purchasers. In addition to increasing supply, the scheme will also help deliver more sustainable places to live in our urban centres.”
ENDS
Additional information can be found at https://www.housingagency.ie/CroiConaitheCities .
