Fri Sep 20 13:43:41 UTC 2024: ## Government Showcases New Housing Development as Model for Future Projects
The Taoiseach, Simon Harris, has hailed the Land Development Agency’s (LDA) Shanganagh Castle development in Co Dublin as an “exemplar” for future housing projects, as almost half of the 597 homes are now ready for occupation. This is the LDA’s first direct-build development on publicly owned lands, a mix of affordable, cost-rental, and social homes.
The project, completed in conjunction with Dún Laoghaire Rathdown County Council, represents the largest undertaking by the LDA since its establishment in 2019. The first phase has delivered 281 A2-rated homes, including 195 cost-rental and 86 affordable homes. Cost-rental homes are available from €1,175 per month, 25% less than market value, while affordable homes sell for €334,000 (two-bedroom) and €380,000 (three-bedroom), significantly lower than the €650,000 median price for similar homes in the county.
The development also includes approximately 200 social homes, and a new Dart station is being built to cater to the growing population.
Mr. Harris and Minister for Housing Darragh O’Brien emphasized the success of the LDA model, which forms a core component of the Government’s housing policy. The LDA’s performance is a key point of debate ahead of the upcoming election, as Sinn Féin proposes its abolishment and integration into two new agencies.
The LDA currently has 18,000 homes in the pipeline, with 6,000-7,000 expected to be on site by the end of 2025. However, Sinn Féin’s housing spokesman Eoin Ó Broin criticized the stated prices, alleging that they are linked to market value, resulting in higher rents and State equity shares. He estimates that the larger three-bedroom homes could have State equity of up to €170,000 and rents exceeding €1,800 per month.
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