dlr Seeking to Purchase Uncommenced Residential Developments Through Turnkey Agreements

Thursday, November 25, 2021
dlr County
Intro Text 

Dún Laoghaire-Rathdown County Council is seeking to purchase uncommenced residential developments through turnkey agreements.

Home builders and housing developers in Dún Laoghaire-Rathdown are being asked to consider offering unbuilt houses or apartments with planning permission, to Dún Laoghaire-Rathdown County Council (the Council) under an advance purchase turnkey arrangement.

The Council is seeking to enter into advance purchase arrangements to secure turnkey homes in areas where the need for affordable and social housing is most acute. This call is targeted at advance purchase opportunities for a minimum of 10 and a maximum of 150 dwellings in any one scheme, but the Council is willing to consider all proposals, including those for less than 10 dwellings.

The Council is seeking to agree advance purchase of unbuilt turnkey properties ’off-plan’ located within the functional area of Dún Laoghaire-Rathdown. This advance purchase opportunity has been put in place to provide for accelerated delivery of housing generally, including both social and affordable homes, in areas where a significant need for housing has been identified.

It is anticipated that, depending on circumstances and proposals, the Council will enter into an advance purchase agreement for an approved number of homes, with payment on completion. The advance purchase agreement also provides for the direct sale of homes by the developer to an eligible purchaser nominated by the Council. Joint venture arrangements that include an Approved Housing Body (AHB) will also be considered.

Under the “Housing for All” Plan, significant funding streams are available to the Council to increase the number of new-build homes for social and affordable housing. The Council can make an application to the new Affordable Housing Fund (AHF) to assist in meeting the cost of delivery of affordable housing and deliver affordability to approved purchasers and renters. This AHF forms part of an overall affordable housing budget which will provide €2.9 billon over the period to 2030 to deliver homes for affordable purchase and rent.

Home builders and housing developers are asked to contact Dún Laoghaire-Rathdown County Council’s Housing Department for more information and to submit an expression of interest. The Council will consider the initial proposal and, should it meet housing needs, cost and eligibility criteria, additional information will be sought to move forward with the process.

Catherine Keenan, Director of Housing, said:

Under the Housing for All plan, Dún Laoghaire-Rathdown County Council is working to significantly increase our provision of social and affordable housing over the coming years.  The new Affordable Housing Fund is a very important measure towards that ambition allowing greater and more efficient delivery of homes at below market rates. I urge all home builders and housing developers to consider the many benefits of an advance purchase arrangement with the Council, including financial surety and efficiency. Entering an arrangement with us will also provide much needed homes and help to build sustainable communities.