Major new co-operative housing scheme announced for north Dublin

Co-operative Housing Ireland is to provide homes for 39 families at a vacant site in Richmond Road, Drumcondra, Co. Dublin. The homes will be developed at a cost of €10.5million with construction due to commence in the first half of 2016. The first occupants are expected to take up residence in 2017.

The development at Richmond Road will combine a mix of one, two and three bedroom apartments in landscaped gardens overlooking the river Tolka.  The homes will be provided to 39 local families, currently on Dublin City Council’s housing list, under a long term lease arrangement. The Department of the Environment will provide 30% of funding through the Capital Advance Leasing Facility (CALF) with the remaining 70% privately financed.

Minister for the Environment, Communities and Local Government, Alan Kelly TD announced the details today at the opening of a nearby co-operative housing development in Drumcondra.

Minister Kelly was attending the opening of a development of 13 new homes at Calderwood Court also in Drumcondra. These are being provided by Co-operative Housing Ireland under a partnership arrangement with NAMA.

Families at Calderwood Court have been provided with a mix of thirteen apartments and duplexes of one and two bedrooms.  The homes are built around a shared courtyard and benefit from close proximity to local facilities including schools and parks. Calderwood is the latest in a series of partnerships between Co-operative Housing Ireland and NAMA that has already delivered 80 homes in Cork, Waterford, Wexford and Dublin.

Co-operative Housing Ireland is the new name for NABCO, the national organisation for co‑operative housing in Ireland since 1973. Tenants of the organisation buy shares in local co-operatives and can exercise a real say over the management and development of their own communities.

Speaking at the opening, Co-operative Housing Ireland CEO, Kieron Brennan said: “Our strategy is to respond to the national housing crisis by growing, particularly in urban areas of high demand.  These two new developments in Drumcondra will make a real contribution to meeting housing need in this area”.

Visiting the development, Minister Kelly said: “This government’s Social Housing Strategy commits to delivering 35,000 new homes for social housing over the period to 2020.  Having seen the quality of houses provided here in Calderwood Court, I’m delighted that Approved Housing Bodies such as Co-operative Housing Ireland will play a key role in meeting that target.”

Commenting on the transaction, NAMA Chief Executive, Brendan McDonagh said:  “NAMA, has made 6,575 residential properties available for social housing nationally since 2011.  The decisions about the selection and allocation of social housing are made by the Housing Agency and local authorities.

“Calderwood Court is another good example of all the key players working together and I would like to commend all those involved. NAMA provided over €600,000 in funding to finish off and fit-out the 13 apartments and duplexes in Calderwood Court. Works included remediation to ensure compliance with both planning and building regulations before the units were made available to tenants through NABCO.  Nationally NAMA has invested over €50m to complete houses and apartments which have been made available for social housing.  Through our partnership with NABCO and other approved housing bodies we expect to have made 2,000 properties available for social housing by the end of 2015.  We hope the residents will be very happy in their new homes”.