The Land Development Agency (LDA) 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.
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.
All of the apartments will be made available as cost rental homes. This is a new tenure, which provides a secure, long term rental option at below market rates, the LDA said.
It is designed to assist those who do not quality for other state supports, but who are struggling to afford to rent in the private market.
Chief executive of the LDA, John Coleman, said: “This is a major announcement for the LDA and one we are very excited about. We are partnering with Cairn to finance and deliver 607 apartments in a brand-new town in Dublin, which has been deemed an area of national importance by the Government given its status as a Strategic Development Zone.
"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.
"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. I would like to thank Cairn Homes for partnering with us on this project and I look forward to the completion of the first of these new homes later this year.”
