Croí Cónaithe (Cities) Scheme
From Department of Housing, Local Government and Heritage
Published on
Last updated on
From Department of Housing, Local Government and Heritage
Published on
Last updated on
The Croí Cónaithe (Cities) Scheme is a fund to support the building of apartments for sale to owner-occupiers. The Scheme aims to bridge the current “Viability Gap” between the cost of building apartments and the market sale price (where the cost of building is greater).
A key national policy objective under Housing for All, the Government’s national housing plan to 2030, is to build more homes within our cities and towns, resulting in compact growth and vibrant, liveable cities. This will help to tackle climate change, reduce vacancy and dereliction and help to meet the strong demand for urban living.
Funding for Croí Cónaithe (Cities) Scheme will only be made available for suitable apartment developments where there is a demonstrated viability gap. Unless bridged, this gap will lead to the apartments not being built or being built but not available for purchase by owner-occupiers. Open book accounting will be required for all developments to make sure that the funding support provided only targets the viability gap in question resulting in a reduction of cost for home-buyers and increased supply into the market.
The Scheme will be managed and administered by The Housing Agency on behalf of the Department of Housing, Local Government and Heritage. The Housing Agency will receive proposals for developments via e-tenders. It will assess eligibility and carry out detailed due diligence and an open book assessment on eligible proposals.
Expressions of Interest are invited from developers with planning permission to build apartment blocks (proposers). These submissions must be made online. To be eligible, apartment blocks must be:
Eligible apartment developments will then be ranked based on density, date of delivery of the apartments, the quality of the development, the delivery cost per apartment and proximity to core services and amenities. Proposals will then be subject to detailed due diligence and an open book assessment.
Submissions should be returned via eTenders no later than 5pm on Tuesday 21st June 2022 . It is the sole responsibility of the proposer to ensure their submission is received by the stated deadline.