Fingal Greens welcome changes to a large-scale scheme which will exclude cuckoo funds
Fingal Greens welcome changes to a large-scale scheme which will exclude cuckoo funds and contain substantial affordable, social and cost rental housing
Fingal County Council today gave the go ahead for 1,200 homes in one of the largest housing projects in the county.
The Fingal Green Party welcome the strengthening of the deal in recent days with a commitment to exclude investment funds from purchasing both housing and apartments on the site.
Following an intervention from the Green Party councillors asking for the exclusion of REITs from the deal and adding cost rental to the deal. This was reflecting a consensus on the council to support such measures.
The housing scheme is for Ballymastone in Donabate Co Dublin and includes 1200 units of housing
In two letters to the county council this week 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 first to the private market.
Green Party Coucillor 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 phasing of the project will also ensure that social and green infrastructure are delivered at the same time as housing
“This sets and important precedent for housing projects both in Fingal and nationally.”