The State’s Land Development Agency says it is on track to complete at least 13,000 new homes between now and 2030, in addition to the 3,215 it has already built.<\/p>\n
The LDA was established in 2018 to develop affordable housing on State-owned land. Around 90% of the homes it has completed to date are offered on a cost rental basis.<\/p>\n
In its mid-year progress update, the agency said it currently has 6,500 homes under construction across 20 developments.<\/p>\n
The LDA said it expects to complete 1,800 homes this year, with 3,000 delivered next year and a further 3,500 in 2028.<\/p>\n
“That’s a very strong rate of delivery, making us one of the highest producers of housing of any entity in the country,” said LDA CEO John Coleman. “But what’s very important as well is that we’ve a very firm pipeline of nearly 30,000 homes with the sites that we’re working on at the moment – bringing them through design, planning, infrastructure deployment and having them ready for the construction of homes.<\/p>\n
“So it bodes very well for the long-term output of the LDA, as well as the near-term delivery which is very important too.”<\/p>\n
It expects to spend around \u20ac1.5 billion on land acquisition and housing development this year, while its total assets are valued at just over \u20ac2.9 billion.<\/p>\n
Over the longer term, the agency is forecasting the delivery of 13,272 homes between June 2026 and the end of 2030. Beyond that it says it has a pipeline of more than 15,000 homes – including around 6,000 properties earmarked for Lissenhall in north county Dublin.<\/p>\n
It said direct delivery of projects would make up an increasing proportion of its output in the coming years, as it found that method increasingly efficient compared to working with an existing developer.<\/p>\n
However it said it would continue to fund the delivery of affordable homes through other builders – as part of its Project Tosaigh initiative.<\/p>\n
Mr Coleman said changes around planning rules had made a difference to its ability to deliver housing.<\/p>\n
“An Coimisi\u00fan Plean\u00e1la has been much more efficient in terms of bringing through planning decisions, which is a big help to the LDA,” he said. “I think the narrative around judicial review has changed – I think the population and public understand the need to deliver infrastructure, but also housing schemes. So we’re seeing less risk around judicial review over the past six months or so.”<\/p>\n
He also said changes to apartment design regulations had contributed to a 10-15% reduction in the cost of production.<\/p>\n
Meanwhile, he said the Government’s approval of plans to give the LDA expanded compulsory purchase order powers would help facilitate its delivery of larger projects that often require significant infrastructural work in the surrounding areas.<\/p>\n
While the vast majority of the LDA’s projects are in the greater Dublin area, it is also increasingly seeking opportunities in other cities – with its pipeline to 2030 including developments in Limerick, Cork and Galway.<\/p>\n
And while its central remit is the development of State-owned land, it said it has also increased the amount of land it is acquiring. But Mr Coleman said he does not believe this risks pushing up prices in the market.<\/p>\n
“We don’t want to compete with the private sector at all,” he said. “We don’t want to displace any house-building activity that would otherwise happen – we think that’s a bad policy.<\/p>\n
“It’s where things that aren’t happening where they should be happening, that’s where we tend to get involved.”<\/p>\n
As of June 2,367 of the homes developed by the LDA were occupied through cost rental agreements – which the agency said offered tenants rents at least 25% below market rates.<\/p>\n
A survey of cost rental tenants conducted by the LDA found that more than 90% rated their satisfaction with their home as ‘good’ or better.<\/p>\n","protected":false},"excerpt":{"rendered":"The State’s Land Development Agency says it is on track to complete at least 13,000 new homes between…\n","protected":false},"author":2,"featured_media":575145,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60],"class_list":["post-575144","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/575144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=575144"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/575144\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/575145"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=575144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=575144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=575144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}