The development of more than 850 new homes has been secured alongside cultural and retail facilities, public open spaces and a crèche at Oscar Traynor Road in Coolock, Dublin.

The Minister for Housing, Local Government and Heritage, Darragh O'Brien, TD, announced funding approval to proceed with the construction of the significant social and affordable housing development.

The project will now proceed immediately to the construction stage.

The scheme is comprised of Social Housing Homes (40%), Cost Rental Homes (40%) and Affordable Purchase Homes (20%) and results from a collaboration between Dublin City Council, Clúid Housing and the Department of Housing, Local Government and Heritage. The project will be realised through a phased construction programme on the Dublin City Council site by the procured developer, Glenveagh .

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Commenting on this significant milestone, Minister O'Brien said: "With total exchequer funding of in excess of €104 million, this project really underscores this government's commitment to Housing for All. Approval to proceed to construction marks a significant milestone towards the delivery of large-scale affordable housing in our capital city.

"Oscar Traynor Road is a key strategic site. The large number of mixed tenure homes to be delivered here will make a real difference. We are now in a position that we have a number of such sites, Shanganagh Castle and O'Devaney Gardens for example, and as a Government, we need to and we want to deliver more developments like these, right across the country."

The construction programme will deliver the Social, Cost Rental and Affordable Purchase homes in phases over four years. In addition to much needed housing, the scheme will also contribute to creating a vibrant community with amenity spaces, parks and public realm to complement the residential area.