Launch of Ireland’s First Purpose Built Cost Rental Apartments

The Minister for Housing, Local Government and Heritage Darragh O’Brien T.D. opened Ireland’s first purpose build cost rental homes today. The scheme of 155 homes (50 cost rental and 105 social housing) is delivered by Respond and Tuath Approved Housing Bodies in partnership with Dun Laoghaire Rathdown Council, the Department of Housing, Local Government and Heritage, the Housing Agency and the Housing Finance Agency.

‘Woodside’ in Stepaside (Dublin) will be managed by Respond and Tuath Housing.  The homes are a mix of 1, 2 and 3 bedroom properties. All of the 50 Cost Rental homes are 2-bedroom apartments. The Cost Rental apartments will be let at a monthly rent of €1,200, a significant reduction when compared to market rents for 2-bedroom apartments in this location. The rent charged to tenants will cover the cost of delivering, managing and maintaining these homes and will not be driven by market movements.

Niamh Randall, Spokeperson for Respond said: “Respond are delighted to be involved in such a unique collaboration, bringing these 50 Cost Rental Homes to people who have been caught in an impossible situation where they do not qualify for social housing yet a mortgage is out of their reach. Some tenants have been struggling to pay high rents in the Private Rental Sector. Cost rental is a new departure in the delivery of housing in Ireland, providing a new type of housing tenure in addition to social housing, private renting and private purchase. Respond have been advocating for some time for a sustainable and replicable cost rental model.  We very much look forward to working with our partners to deliver additional cost rental homes around the country to those who are eligible in areas where they are needed.”

CEO of the Housing Agency Bob Jordan added “We warmly welcome the official opening of the Woodside Development at Enniskerry Road, which will provide 155 much needed social and cost rental homes. The Housing Agency is playing a key role in the national rollout of cost rental homes, and we were pleased to transfer land to Dún Laoghaire-Rathdown County Council for this first cost rental development on public land in Ireland. The Housing Agency has worked closely with the local authority as well as with the Department of Housing, Local Government and Heritage, Tuath, Respond, and the Housing Finance Agency in delivering this project. We look forward to working together on future developments and we wish the tenants of Enniskerry Road many happy years in their new homes.”