Construction BUSINESS

Coveney announces €32 Million for Repair and Leasing Scheme

 Breaking News
  • Plans For Revamping Disused Buildings, a New Town Square, and a Cultural Corridor Announced Re-purposing disused buildings, a revamped town square and a new cultural corridor are just three of the six projects which form part of a community-led architecture and design programme, ‘Reimagine…’, announced by the Irish Architecture Foundation. Reimagine… brings together local communities, architects, designers and planners to develop projects which will enhance the local built environment of [...]...
  • Grafton Merchanting Ireland Launches 2019 Builders’ Merchants Sales Traineeship Grafton Merchanting ROI, Ireland’s largest builders’ merchant, has announced that applicants for its 2019 Builders’ Merchants Sales Traineeship programme are now open. This is the second year of the initiative which in its first year saw 10 people (7 male, 3 female) graduate from the 26-week programme. The QQI accredited programme, is run by Grafton Merchanting [...]...
  • Affordability and Uncertainty Push Irish Property Price Inflation Lower Irish house price inflation eased further to 2.0% in June from 2.6% in July. The annual increase in June is the slowest rise in six years (since the 1.0% increase of June 2013), according to the KBC Economics Desk. While there has been a marked slowdown in the annual rate of increase in Irish property prices, it should [...]...
  • Boston Scientific’s Galway Office in Building of the Year Awards Boston Scientific’s Galway office conversion has been shortlisted in the ‘Building of the Year’ Awards in the Commercial and Building Refurbishment categories. The ‘MOD 1 Building 2’ development involved renovating and re-purposing a large 1970’s industrial warehouse into a state-of-the-art, light filled and sustainable corporate office space. “We are delighted to be shortlisted for the Building [...]...
  • Construction Activity Rises at Weakest Pace in Almost Six Years At 51.4 in July, down from 53.1 in June, the Ulster Bank Construction Purchasing Managers’ Index® (PMI®) – a seasonally adjusted index designed to track changes in total construction activity – signalled a modest expansion of Irish construction activity. The rate of increase was the slowest in the current 71-month sequence of growth. Commenting on the [...]...

Coveney announces €32 Million for Repair and Leasing Scheme

Coveney announces €32 Million for Repair and Leasing Scheme
February 27
12:55 2017

The Minister for Housing, Planning, Community & Local Government Simon Coveney announced on Thursday that the pilot scheme that targets vacant properties and secures them for social housing, by financing the cost of repairs, is to be rolled out on a national basis. An additional €26 million is being provided to fund the scheme in 2017 which brings the total amount of investment available this year to €32 million. This additional funding will mean that up to 800 vacant properties can be brought back into use as new homes for families on local authority waiting lists.

“The pilot has been working well in Waterford and Carlow local authorities since October with around 59 properties currently in train,” Coveney said. “Based on this level of interest in the scheme, I am confident that the initiative can deliver up to 800 homes this year. Property owners see the opportunity the scheme presents for them – upfront financing of the cost of repairs – in fact they need not even get involved in arranging the works, and a secure and reliable income from regular rental payments, without having to take on landlord responsibilities.

The Department is currently working with local authorities to implement the scheme on a local basis. A range of Approved Housing Bodies around the country have also expressed an interest in working with local authorities to deliver new social homes using the scheme. “I see these bodies having a significant role in its success – their local knowledge, experience of managing refurbishment projects, as well as being good landlords will be invaluable” said the Minister.

The scheme will be monitored very closely this year in order to ensure that it works and is cost effective. This approach will also assist in understanding the real potential of the scheme over the coming years.

The Repair and Leasing Scheme is one of a number of initiatives in Rebuilding Ireland to address vacant properties around the country. Other initiatives include the Buy and Renew Scheme which provides funding for local authorities to purchase vacant properties and remediate them and a new National Vacant Housing Re-Use Strategy which is currently being finalised.

Property owners interested in the scheme should contact their local authority directly and register their interest.

More information on the scheme can be found here.

About Author

admin

admin

Related Articles

Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • No upcoming events
AEC v1.0.4

New Subscriber

Subscribe Here



Advertisements