Cairn Homes secures €131m from sale of Greystones apartments

The LDA launched its first cost-rental scheme last November by offering 48 of the A-rated units to the market with rents starting at €1,455 per month for two-bedroom apartments and rising to €1,550 for three-bedroom duplexes. A lottery system was used to select successful applicants from the 150 applications received by the agency.

The LDA is to run another lottery this month to select tenants for the remaining 94 homes at Archers Wood. All of these units are one-bedroom apartments and rents are expected to start at a lower rate. In order to be eligible for a cost-rental home those applying must have a net household income of less than €53,000 per annum and not be in receipt of any social housing supports such as rent supplement or a housing assistance payment . Those who own a property already are precluded from applying for the scheme, while successful applicants must be able to afford to pay the cost rent set down by the LDA.

Commenting on his company’s ambitions for the year to come, and for the social and affordable housing market specifically, Cairn Homes CEO Michael Stanley said: “Cairn is proud to have become the first company in Ireland to deliver over 1,500 new homes in a calendar year. This included a broad mix of first-time buyer houses and duplexes, houses and apartments for second-time buyers, and apartments for the private and affordable rental markets.

Is this right. The LDA (taxpayers) and tuath housing (wealthy business people) have spent 100 Millon on property that taxpayers will NEVER own. Well don't tuath. Great business given taxpayers will pay much of the rent as well. Shane working taxpayer can't afford their own homes

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