Three new affordable housing schemes opened
Minister John Cummins flanked by Waterford Mayor Seamus Ryan (right) and Waterford Council CEO Sean McKeown (left).
Waterford Fine Gael Minister for Local Government and Planning, John Cummins TD, launched three affordable and cost-rental schemes in Waterford on November 17.
The schemes were based in: Ballycarnane, Tramore; Mountneil, Carrickpherish; and Gort na hInse, Ballynaneashagh.
The development based in Ballycarnane was a 25-unit affordable housing scheme. Prices for the two-bed properties began at €251,000, with three-bed properties starting at €281,000.
The affordable housing scheme sees local properties take a 5-25% equity stake in properties to reduce the purchasing price for potential buyers. Waterford buyers under the scheme must generally earn less than a €81,000 gross total annual household income.
“I will continue to collaborate and support local authorities here in Waterford and across the country to deliver schemes, like this one here in Tramore,” said Minister Cummins.
“It was really fantastic to meet some residents today who had engaged with my constituency office team in navigating the process and now have keys to their new home.”
Mountneil’s housing development marked the first-ever cost rental scheme built by an Approved Housing Body in Waterford. The houses were built by Waterford City and County Council and housing developer Tuath.
There were 49 cost-rental houses and 49 social units at Mountneil, with 22 cost-rental units at Gort na hInse. Cost-rental units stand at 25% below market rate, designed for those with a net household income of less than €59,000.
