Homebuilders and housing developers in Limerick City and County are being asked to consider offering unbuilt houses or apartments with planning permission to the Council under an advance purchase turnkey arrangement.
Council urges builders and developers to come on board to provide additional affordable Limerick housing
Limerick City and County Council is seeking to enter into advance purchase arrangements to secure turnkey homes in areas most needed, in particular, for affordable housing, is most acute.
This call is targeted at a minimum of 10 and a maximum of 150 dwellings in any one scheme. Primary areas of interest include Limerick city (all areas including suburbs), Newcastle West, Abbeyfeale, Kilmallock and Castleconnell.
Home builders and housing developers in Limerick city and county are being asked to consider offering unbuilt houses or apartments with planning permission to the Council under an advance purchase turnkey arrangement.
More info: https://t.co/eyqDhYTlWM
— Limerick Council (@LimerickCouncil) December 20, 2021
This scheme has been put in place to provide for accelerated delivery of housing generally, and primarily, to provide affordable homes for eligible applicants nominated by Limerick City and County Council in areas where a significant need for affordable or social housing has been identified.
Mayor of the City and County of Limerick Cllr Daniel Butler said: “Under the Housing for All” plan, Limerick City and County Council will significantly increase our provision of social and affordable housing over the coming years. The new Affordable Housing Fund (AHF) is a very important measure towards that ambition, allowing greater and more efficient delivery of homes at below-market rates.”
Sarah Newell, Senior Executive Officer in Housing in Limerick City and County Council said: “I urge all home builders and housing developers to consider the many benefits of an advance purchase arrangement with Limerick City and County Council, including financial surety and efficiency. Entering an arrangement with us will also provide much needed mixed-tenure homes and help to build sustainable communities.”
It is anticipated that, depending on circumstances and proposals, Limerick City and County Council will enter into an 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 Limerick City and County 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 Limerick City and County Council to increase the number of new-build local authority homes for social and affordable housing.
Limerick City and County Council can make an application to the new Affordable Housing Fund 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 billion over the period to 2030 to deliver homes for affordable purchase and rent.
Homebuilders and housing developers are asked to contact Limerick City and County Council’s Housing Directorate for more information and to submit an expression of interest to provide Affordable Limerick Housing.
Limerick City and County 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.
Limerick City and County Council would encourage interested parties that believe they fit within the above criteria and that are interested in exploring this option to submit a completed Expression of Interest Application Form by Monday, January 31 2022.