A new €50 million fund has been launched to support the transformation of vacant and underused buildings into new homes.

The Croí Cónaithe (Towns) Fund will benefit those who wish to turn a formerly vacant house or building into their permanent home and become part of the community in the area.

The Fund will be delivered through local authorities who will provide a grant to support the refurbishment of vacant properties, with priority given to applications in areas where the level of vacancy or dereliction is high. A grant of up to €30,000 will be available for the refurbishment, including the conversion of a property which has not been used as a home before now.

Where a property is derelict, a maximum top-up grant amount of up to €20,000 will be available, bringing the total grant available for a derelict property up to a maximum of €50,000. This can also be combined with the SEAI Better Energy Home Scheme that covers works of up to €26,750.

This fund was launched as Taoiseach Micheál Martin and Housing Minister Darragh O'Brien delivered significant upgrades on the progress of the Housing for All plan.

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Since the launch of Housing for All in September, 17,000 new homes have been delivered and we are on track to deliver the 2022 target of 24,600 new homes. The progress report details the delivery of significant measures aimed at addressing viability of home delivery, providing additional supports for first-time buyers and bringing vacant homes back into use.

These include launch of the First Home Shared Equity Scheme, reform of the Fair Deal Scheme to incentivise rental, applications received for the Croí Cónaithe (Cities) Scheme and the identification of a consortium to host a Construction Technology Centre.

Speaking at today's event, Taoiseach Micheál Martin said: "Housing for All provides a comprehensive plan, and record levels of funding to tackle the single most urgent and important social issue facing our country. Despite the challenges, we are on track to deliver 24,600 new homes in 2022. And we need to do more. This new Croí Cónaithe Towns scheme will help turn vacant properties into homes again, and create vibrant communities. It is one of a range of measures in Housing for All designed to ensure that everyone has access to good quality housing, and access to sustainable towns and villages."

Commenting on the launch of Croí Cónaithe Towns Minister Darragh O'Brien TD added: "The Croí Cónaithe (Towns) Fund is another key delivery milestone in the Government's Housing for All plan and supporting home ownership. Recently we launched our new First Home Scheme, announced affordable and cost rental accommodation to be developed through the Land Development Agency at Shanganagh and promoted the development of apartments for owner occupiers through the Croí Conaithe Cities fund. Today, this scheme becomes our latest addition to boosting home ownership by supporting people to refurbish vacant properties to become their homes, enabling them to live in towns and villages and addressing vacancy through sustainable reuse.  At the same we are adding to the vibrancy of towns and villages across the country and supporting local communities. I also intend extending the scheme further into city areas with high vacancy or dereliction in the coming months."