The Land Development Agency (LDA) is launching 92 affordable purchase homes in Summerfields, Kilbarry in Co Waterford.
The homes are being made available under the Local Authority Affordable Purchase Scheme to eligible buyers in partnership with Waterford City & County Council and are part of the LDA's Project Tosaigh initiative.
Project Tosaigh is a government initiative, in which the State steps in to purchase housing in cases where developers have planning permission, but delivery has either not commenced or stalled. Under this scheme, the LDA is due to deliver at least 5,000 homes by 2026.
The new homes in Waterford were developed by the Whitebox Group.
Prices start from €226,564 for three-bed semi-detached houses and €256,214 for four-bed semi-detached houses net of the Affordable Dwelling Contribution, with buyers able to get support through the Government's Help to Buy Scheme.
Summerfields is Waterford's newest planned "urban village" and is within walking distance of the city’s main educational and employment centres, SETU and the IDA Ireland industrial park.
Waterford City & County Council is managing the application process for prospective purchasers.
The Council will provide an "Affordable Dwelling Contribution" or equity share arrangement to reduce the up front purchase price payable by successful applicants. Affordable Housing Funding will be available depending on the income of successful applicants, their deposit and their savings.
John Coleman, the chief executive of the LDA, said the new scheme, in partnership with Waterford City and County Council, offers eligible buyers an opportunity to secure their own home at an affordable price.
"These homes are priced well below market value and this launch will be welcome news to prospective buyers in the area, which is in need of high-quality, affordable homes," he added.
