Ireland’s first cost rental housing scheme is officially opened in Stepaside

Ireland’s first purpose built cost rental homes were officially opened today in Stepaside, south Dublin.

Formally unveiled by Minister for Housing Darragh O’Brien, the scheme, which is called Woodside, consists of 155 homes – 50 cost rental and 105 social.

The development was delivered by Respond and Tuath Approved Housing Bodies in partnership with Dun Laoghaire Rathdown Council, the Department of Housing, Local Government and Heritage, the Housing Agency and the Housing Finance Agency.

The homes will be managed by Respond and Tuath Housing.

The homes are a mix of 1, 2 and 3 bedroom properties.

All of the 50 Cost Rental homes are 2-bedroom apartments and will be let at a monthly rent of €1,200.

The rent charged to tenants will cover the cost of delivering, managing and maintaining these homes and will not be driven by market movements, Respond says.

Niamh Randall, Spokeperson for Respond said: “Respond are delighted to be involved in such a unique collaboration, bringing these 50 Cost Rental Homes to people who have been caught in an impossible situation where they do not qualify for social housing yet a mortgage is out of their reach.

“Some tenants have been struggling to pay high rents in the Private Rental Sector.

“Cost rental is a new departure in the delivery of housing in Ireland, providing a new type of housing tenure in addition to social housing, private renting and private purchase.

“Respond have been advocating for some time for a sustainable and replicable cost rental model.

“We very much look forward to working with our partners to deliver additional cost rental homes around the country to those who are eligible in areas where they are needed.”

Cathaoirleach of Dun Laoghaire-Rathdown councillor Lettie McCarthy said she was “delighted to be here to open the first purpose built cost rental housing scheme in Ireland.

“This development will provide much needed housing to the people of Dún Laoghaire-Rathdown and it is wonderful to see a development which will provide security of tenure to its residents.

“I look forward to seeing similar schemes in the future.”