Government pledges €1bn for public housing
A record €1bn is to be pumped into public housing around the country, the Government said today.
Minister for Housing Noel Ahern claimed the €1.2bn investment was the largest of its kind and would see nearly 14,000 new homes.
The funding will also finance major regeneration work in housing estates in seven local authority areas.
"The funding of €1bn I am providing today to local authorities is the highest ever allocated for the main local authority housing construction and acquisition programme," Mr Ahern said.
"Total funding is almost €1.2bn when one includes the improvement works programme and central heating."
The minister highlighted the major regeneration efforts under way in the Ballymun area of Dublin, confirming €65m would finance continued regeneration work.
"Substantial progress is now being achieved in the regeneration of Ballymun. It is anticipated that a further 400 houses will be completed this year and 300 new houses will be started," the minister added.
The total allocation announced today by the minister provides for work in progress on more than 8,300 housing units and for local authorities to complete construction work and acquire 5,500 new houses this year, including dwellings completed under regeneration projects.
Specific funding has also been made available to seven local authorities to undertake major regeneration work to a number of estates in Cork, Limerick, Waterford, Dundalk, Sligo and several locations in Dublin.
The minister also added that local authorities now have delegated authority to use the proceeds from the sale of their dwellings, under the Tenant Purchase Scheme, to fund planned housing improvement works.
