The Land Development Agency has announced the planned delivery of over 600 cost rental homes in Seven Mills in Dublin 22.
The 607 apartments are being delivered in partnership with Cairn and are already under construction at Seven Mills, a new town being developed beside the Grand Canal between Clondalkin and Lucan.
All of the apartments will be made available as cost rental homes, which provides a secure, long term rental option at below market rates.
Cost rental homes are designed to assist those who do not quality for other state supports, but who are struggling to afford to rent in the private market.
The new apartments have been secured under the LDA’s Homebuilder Partnership Framework (Project Tosaigh) with the first homes to be completed by the end of this year.
They are being developed in a 12-acre section of Seven Mills called Cooper Square, which consists of 257 one-bed, 318 two-bed and 32 three-bed apartments.
The LDA has previously worked with Cairn Homes on a number of other Project Tosaigh developments.
These include 142 homes at Cairn’s Archers Wood development in Delgany in Co Wicklow, 210 homes at Parkside in Belmayne in Dublin 13, 236 at The Quarter in Citywest, 52 at Harpur Lane in Leixlip in Co Kildare and 81 at The Mills in Castletroy in Limerick.
Seven Mills is being developed by Cairn within the Clonburris Strategic Development Zone.
The town has been planned around two retail and commercial hubs with shops, restaurants, meeting areas and new office buildings.
Once completed, Seven Mills will be about the size of Maynooth in Co Kildare with over 5,500 homes, including over 3,000 that are eligible for first home scheme, cost rental and social and affordable.
John Coleman, chief executive of the LDA, said this investment by the LDA reinforces significant infrastructure investment by the Government in the area.
“As such, this transaction represents a coherent and targeted approach to maximise the impact of State housing interventions resulting in the delivery of affordable homes,” Mr Coleman said.
“Seven Mills is an excellent project in a well-served location and it’s great that the housing mix on offer will now include LDA-owned cost-rental housing,” he added.
Michael Stanley, chief executive of Cairn Homes, said the company was pleased to be continuing its long-standing partnership with the LDA to deliver these new cost rental homes.
“We are using our scale and apartment construction capability to deliver these high-quality energy-efficient homes at pace. The first 200 apartments will be completed and handed over to the LDA later this year,” he added.
