Fingal Greens today welcomed a partnership between Fingal County Council and a private developer which will exclude cuckoo funds and contain substantial affordable, social and cost rental housing.
The Fingal Green Party welcome the strengthening of the deal in recent days with commitments to exclude investment funds from purchasing both housing and apartments on the site and to offer at least 50% of the apartments for cost-rental.
These commitments follow an intervention from the Green Party councillors asking for the exclusion of REITs from the deal and adding cost rental to the deal. These requests reflect a cross-party consensus on the council to support such measures.
The housing scheme is for Ballymastone in Donabate Co Dublin and includes 1,200 residential units including houses and apartments.
In two letters to the county council this week (available here and here) the developer committed to:
- Not sell any homes or duplexes in the private housing element to institutional investors
- Offer at least 50% of apartment blocks to bodies permitted to offer cost rental accommodation to tenants under the State supported cost rental scheme.
- Commit to offer the remaining apartments firstly to the private market.
Green Party Councillor and Mayor of Fingal County Council David Healy said:
“We are very pleased that we are having a large-scale housing development that will not be bought up from cuckoo funds and will have a substantial affordable, social and cost rental housing.
“We are very happy with the mixed tenure of the development 20% social housing, 20% affordable and a proportion of cost rental homes.
“The planning of the development emphasises design for walking and cycling, with full permeability through the development for active travel modes.
“The phasing of the project will also ensure that social and green infrastructure are delivered at the same time as housing.
“This sets an important precedent for housing projects both in Fingal and nationally.”