Rental homes which cost up to 60% less than the market value were launched by the Government's Land Development Agency (LDA) today.
The houses in Citywest are three and four-bed family units located in Parklands on Fortunestown Lane.
They are all A-rated and fitted with heat pumps, fully fitted kitchens and integrated wardrobes in double rooms.
Rents start at €1,350 a month for a three-bed, two-storey terraced house. The monthly rent for a four-bed, two-storey, terrace house, is €1,450 and tenants in a four-bed, three-storey, terraced house will pay €1,460. These rents are typically about 57% below market rents.
A total of 95 homes are to be released over the next 16 months, starting with 22 today. Since their launch at noon today there have been five times as many applicants as there are houses.
Those interested in renting are advised to apply now as their application will also apply to future releases of this particular scheme.
The application portal remains open for seven days from today.
The LDA has already released phase one of its 142 cost rental homes in Archers Wood in Delgany, Co Wicklow and tenants are already occupying 24 duplex units.
Today it began releasing a second phase of 24 duplex units, consisting of 12 two-beds and 12 three-beds.
The monthly rent for a two-bed is €1,455 and the rent for a three-bed is €1,550 which it says are about 30% below market rents in the area.
Cost-rental scheme criteria
Among the criteria to be eligible for a cost-rental scheme is a net household income below €53,000 per annum and the rental cost amounting to no more than 35% of a households' net income.
They applicants must also not be in receipt of any social housing supports including rent supplement or HAP, they must not own a property, their household size must match the size of the property advertised and all members of the household must be living in Ireland at the time of applying.
The State’s affordable housing delivery body is making the homes available through the Government’s Project Tosaigh initiative, whereby the agency steps in to fund the completion of and purchase of stalled or unviable housing projects and then makes the new homes available to renters on a cost-rental basis, or to purchasers at an affordable cost.
Its the first time the LDA has made houses available in Dublin under this scheme
A further phase of cost rental releases in Archers Wood is due to be launched in the coming weeks. It will involve 95 apartments including 37 one-beds, 52 two-beds and four three-beds with monthly rents of €1,220 for a one-bed, €1,445 for a two-bed and €1,530 for a three-bed.
Housing already delivered or due to be delivered under Project Tosaigh includes 92 affordable purchase homes in Mallow, Co Cork and 95 in Kilbarry, Co Waterford.
The LDA is also in the progress of delivering a further 247 cost-rental units in Hansfield in Dublin 15.
The LDA is also developing housing on State land. It currently has planning permission for 1,100 new build units across three developments in Shanganagh, Dublin (597), St Kevin’s Hospital, Cork (265), and Devoy Barracks, Kildare (219).
A further 2,755 units are in the planning system awaiting a decision across developments at Hacketstown in Skerries, Balbriggan in Dublin, Dundrum CMH in Dublin, and St. Teresa’s Gardens in Dublin.
Sinn Féin has said the small number of units are just a drop in the ocean in addressing the housing crisis and the party has written to the Taoiseach urging him to reconsider the lifting of the eviction ban on 1 April.
