Approved Housing Body Oaklee has launched its first cost rental homes at The Sidings in Adamstown in County Dublin in partnership with Quintain Ireland and South Dublin County Council.
This new development is one of the largest cost rental projects in the country and is made up of 154 one, two and three-bed homes.
Cost rental housing is designed to provide affordable and secure accommodation for those on middle incomes, with rents based solely on the cost of construction, management, and maintenance.
Oaklee said monthly rents for the homes at The Sidings apartment development are at least 25% below market rates and range from €1,525-€1,800.
The 154 apartments include 71 one-bed, 81 two-bed and two 3-beds.
Oaklee is delivering the homes with the support of South Dublin County Council (SDCC) through funding from the Department of Housing's Cost Rental Equity Loan (CREL) scheme and private financing from the Housing Finance Agency (HFA).
Oaklee already manages over 2,500 homes across 19 counties, but this new development marks its first launch of cost rental homes.
"For Oaklee to be launching its first Cost Rental scheme here in Dublin is hugely welcome," said Minister for Housing Darragh O'Brien.
"The development in Adamstown will provide secure, high-quality homes which will make a real difference in the lives of more than 150 families and individuals.
"A robust pipeline of cost rental homes is now in place and it’s through the work of AHBs like Oaklee working in collaboration with my department, with our Local Authorities and with our Agencies that we will scale it up even further," he added.
