Cork City’s first rental homes under construction

‘A source of great comfort’ for those caught between social and private housing, is how a city center councilor described the new houses under construction in Cork.

Clúid Housing has announced the first rental housing in Cork City, in partnership with the Department of Housing, Local Government and Heritage. The organization will offer a mixed rental and social housing development at the Lancaster Gate site, close to The Lough amenity area.

The 88 new apartments will include 73 rental units at cost. When complete, the project will include one, two and three bedroom properties.

Under the government’s cost rental program, cost rents must be at least 25% below open market values. Monthly rent for Clúid’s Lancaster Gate, Lancaster Quay homes will start at € 990 per month, about 45% below local market rates.

Speaking of the development, independent advisor Mick Finn said it is a great location and a fabulous project for which he anticipates high demand.

“It will be of great help in the housing crisis facing young couples – there must be more solutions than social or private.”

The properties will be semi-furnished with white goods and flooring provided. Eligibility for houses will require evidence showing that individuals do not receive social housing support, do not own property, can pay the rent on the house, match the size of the property, and have an income household net less than the defined figure. . Applications for the program will be open in the third quarter of 2022.

Housing, Local Government and Heritage Minister Darragh O’Brien said renting at cost is an “exciting new form of tenure in Ireland” and the government is “committed” to helping low-income people to access “affordable and secure rentals in housing that meets their needs”.

Clúid Housing CEO Brian O’Gorman said the organization strives to create “a society where everyone has a good place to live.”

“Together with our partners, we are delighted to announce the construction of Cork City’s first rental homes. These new homes will provide excellent, long-term, secure rental options for middle-income households and those who have difficulty renting in the open market.

“The security of tenure and affordable rent offered here will have a significant impact on how we think about renting in Ireland.

“Clúid has an ambitious growth strategy to deliver 3,000 additional new social and rental housing units by the end of 2022. We hope that the success of these low cost rental housing will lead to longer term commitments from the government on the future of the Cost Leasing Program, ”added Mr. O’Gorman.

Brian Geaney, Deputy Director General of Cork City Council, said they were determined that low-income people living and working in the city can access housing at affordable rents.

“Renting at cost is an important part of the range of housing solutions being deployed across the city to meet demand in a growing city. The city council supported this initiative from the start. He added that the project “ticks all the right boxes for Cork City”.

O’Callaghan Properties Managing Director Brian O’Callaghan said they were delighted to be involved in this project with Clúid Housing and Cork City Council.

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