Waterford welcomes new cost rental development

Waterford welcomes new cost rental development

Funding for 22 cost-rental homes in Waterford under the Affordable Housing Fund has been approved. Minister Darragh O'Brien has confirmed €3.3 million has been given for the scheme at Ballinaneesagh.

Local Fianna Fail Councillor Jason Murphy has welcomed the news and explained to WLR what it would entail.

"This is part of the affordable housing fund of  3.3 million for Waterford. It's the first cost rental scheme in the city and county and I hope there will be more to follow.

"We have been granted up to 20 million for the affordable housing fund. People will be moving into new affordable housing and are doing so at the moment.


"There is a beautiful affordable housing scheme out in the Six Crossroads at Summerfields, and another one in the county."

Cost rental homes are delivered by approved housing bodies (AHB’s), local authorities, and the Land Development Agency (LDA). They provide long-term security of tenure, so people can rent the same home indefinitely.

The Government aims to deliver 18,000 cost-rental homes by 2030. This is outlined in the Housing for All plan, which sets out the housing plan for Ireland to 2030.

Housing Minister Darragh O'Brien has granted €3.3 million for Waterford under the Affordable Housing Fund.


Councillor Jason Murphy continued," This is 22 homes on the cost rental scheme for Waterford. It is to catch that cohort of people whos income levels are too high to qualify for social housing, and for people that cannot access credit for a mortgage. We are going to try and accommodate these people with cost rental.

"It will give them security and will be a long-term rental agreement that will be set at a discount that will be set at 30% off the rental market value for the area. It gives people affordability but also gives them certainty going forward."

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