Ó Cualann Cohousing Alliance appointed to Fingal Affordable Housing Scheme
Fingal County Council has appointed a developer to deliver the first affordable housing scheme in the county in 11 years at Dun Emer, Lusk. Ó Cualann Cohousing Alliance will oversee the construction of 51 homes, of which 39 will be affordable and 12 will be social housing.
The affordable homes will be available to eligible first-time purchasers at prices that will be around 25% below their market value. The 39 units will be a mixture of two-bedroom apartments, three-bedroom duplexes, three-bedroom terraced and three-bedroom semi-detached.
Prices will start from €166,000 for the two-bedroom apartments; from €206,000 for the three-bedroom duplexes; from €250,000 for the three-bedroom terraced; and from €258,000 for the three-bedroom semi-detached homes.
To be eligible for the scheme a purchaser must be a first-time buyer, although certain exceptions will apply. The property must be suited to the applicant’s household needs and they must have been resident in Fingal for more than 12 months.
The income eligibility criteria are aligned to those of the existing Rebuilding Ireland Home Loan so eligible purchasers can earn up to a maximum of €50,000 gross income in a year for single adult households or up to a maximum of €75,000 gross income in a year for households where two or more qualifying adults will own the home. They must also have the right to reside indefinitely in Ireland.
An Equity Charge will protect the public interest against equity speculation. One of the conditions of sale under this Scheme is that the purchaser will remain liable to repay the percentage discount below market value that they benefited from when buying the property. They can pay this off at any time or if the property is sold.
The Mayor of Fingal, Cllr David Healy, said: “Councillors approved the Dun Emer Purchase Scheme last November, so I welcome the appointment of a developer which is the next step in the process. I hope that the process will continue to move quickly as councillors are very supportive of this scheme and are keen to introduce affordable housing into the county.”
Fingal County Council’s Director of Housing and Community Development, Margaret Geraghty, said: “Now that the contracts are formally signed, details of the homes for sale in Dun Emer will be on the Council’s website and we will invite applications from eligible purchasers in about six to eight weeks’ time. This will give all prospective applicants an opportunity to familiarise themselves with the application process and gather the necessary documentation.”
The Chief Executive of Fingal County Council, AnnMarie Farrelly, said: “The appointment of Ó Cualann is a welcome step towards the realisation of our affordable housing scheme at Dun Emer in Lusk. They bring some welcome experience on the delivery of affordable homes and understand the importance of this project in terms of overall housing delivery within Fingal. We are continuing to work on our plans to develop more affordable housing in Church Fields in Dublin 15, Cappagh in Dublin 11, Ballymastone in Donabate, and Hacketstown in Skerries where we are working with the Land Development Agency.”