Tuath welcomed Minister for Housing, Darragh O’Brien to present keys to Cooleven’s first tenant, where 83 newly-built family homes will be let before Christmas, under South Dublin County Council’s choice-based lettings scheme.
The 20 apartments and sixty-three houses were built by Grandbrind Ltd under contract to Tuath. Total loan finance of €24.1M was provided to Tuath by AIB Corporate Banking (AIB) and the Department of Housing. Tuath acquired the scheme with the support of South Dublin County Council and will manage the development as part of their expanding 6,000 homes portfolio across the country.
The average cost of a two bed apartment is €233k and a 3 bed house costing €300k, representing good value for money for A rated homes in the area. Tuath Vice Chairman, Paddy Gray and the Minister for Housing Darragh O’Brien were delighted to hand over the keys to Cooleven’s first resident, Amy Collins, who is a health care attendant in St. James’s hospital. Amy is thrilled to “start a new beginning, making memories’ in her new home.
Tuath, who recently launched a new five year Strategic Plan; Resilience, Recovery, Rejuvenation; ‘Building a better future’, have plans to deliver 5,000 more social and affordable homes across the country by 2025. Tuath sees investment in social and affordable housing as an investment in the country’s infrastructure, an investment for future generations and an important driver of economic activity today.
Minister for Housing, Local Government and Heritage, Darragh O’Brien TD said: “It’s a pleasure and a privilege to witness families moving into these new homes and commencing a new phase in their lives. I believe this Tuath development is a great example of how our AHB’s, local authorities and our financial institutions can all work together with my Department for our collective goal of increasing social housing stock and providing homes to those who need them.”
Colm Ward, Director of Housing, Social & Community Development in South Dublin County Council said that: “The Council welcomes the development of 83 new homes at Cooleven. Households from our social housing list will be delighted to be moving into their new homes before Christmas. This high-quality development is an important part of our social housing delivery programme in South Dublin in 2020. We see working together with Approved Housing Bodies like Tuath Housing as central to housing delivery in the County and we look forward to continued partnership with Tuath the future.”
Cathy Bryce, Managing Director, AIB Corporate, Institutional & Business Banking advised that: “AIB is delighted to continue its support for Tuath Housing and its latest development, Cooleven, Cloverhill. This development will support 83 families and individuals with much needed new sustainable ‘A’ rated homes. AIB is committed to playing its part in meeting the challenges of housing in Ireland today with funding for Cooleven coming from AIB’s recently announced new €300m Social Housing Fund set up to assist Approved Housing Bodies and developers deliver over 2,000 homes across the country. The ‘A’ rated new homes will also contribute to AIB’s sustainable agenda and its green lending focus, as demonstrated by our recent €1bn Green Bond issuance.”
Paddy Gray, Tuath’s Vice Chairman advised that: “It is more obvious now than ever that nothing is more important than a safe, secure, affordable home. Despite the challenges of covid we are still on course to provide over 900 new homes this year which is a testament to the dedication and determination of Tuath and its local authority partners, funders and other important stakeholders. We wish each and every family here in Cooleven, health and happiness in their new homes.”
