“I signalled my intent early into my tenure as Housing Minister, to do something for those most affected by the housing affordability gap that has emerged from the lost decade of little or no supply of new homes and rising demand as more people return to work, start families and so on. In that regard, low and moderate-income renters in Dublin and other cities in Ireland often face particular housing affordability challenges, and the government is committed to addressing this supply gap as part of its package of affordability measures. Cost Rental could be a game-changer for the rental market, as it has been in many other cities we have looked at. Taking profit, land, and other costs out of the equation and securing competitive EIB financing means that much more affordable rent can be achieved on publicly-owned lands. I am determined to see this major project delivered and for more to follow on other key State sites. I want to thank Dublin City Council for embracing this project; I also want to thank the National Development Finance Agency for their invaluable advice and assistance and the Housing Agency for its support and advice to my own department and the Council. Finally, I would like to recognise the support that the EIB has given us in bringing forward this new type of housing in Ireland benefiting from its international experience.”