The Government is to invest €100 million to deliver more than 1,000 student accommodation beds.

The funding will allow 493 new beds to be developed in UCD, and the progression of 405 new beds in DCU through tender stage and 116 new beds in Maynooth University to construction.

In exchange for State funding, a condition will be set requiring that 30 percent of the newly constructed beds be allocated for students in priority groups identified under the National Access Plan or eligible for support through SUSI, with a discounted rental rate applied.

The details were confirmed at Government Buildings by Taoiseach Simon Harris, Minister for Further and Higher Education, Research, Innovation and Science Patrick O'Donovan, Minister of State for Skills and Further Education Niall Collins and Minister of State at the Department of Public Expenditure, National Development Plan Delivery and Reform Ossian Smyth.

Speaking today, 25 April, the Taoiseach said: "In my previous role, the Department and I made tackling the challenges around student accommodation a priority, an issue which is a key objective under Housing for All. We must do everything we can to make college as affordable and as accessible as possible.

"No one should have to turn down a college place or their dreams of pursuing higher education because they can’t access an affordable bed. Today's announcement is one of many significant milestones, under Housing for All, which will see Government continue to support the development of student accommodation projects around the country. And I’m delighted that with the funding comes the condition that a large proportion of the beds will be made available at below market rate for those who need the help most."

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Minister Patrick O'Donovan said: "I am deeply conscious that the cost of accommodation can be a challenge for many students and would make the reality of higher education beyond the reach of many.

"This investment, however, will help increase the supply of student housing in some of our biggest campuses and, with much of it targeted at those who need it most, we are continuing our policy of making sure education is accessible to everyone. We also know that for every student space that is created it helps to ease the pressure in the private rental market. In addition, our approved long-term policy approach will include a focus on balanced regional responses for additional student accommodation with the Technological Universities, utilising a standardised design approach for new student accommodation.

"This policy will also focus on refurbishment and vacancy to deliver additional supply, and supporting measures to reduce barriers to higher education for our students."

Project proposals have been submitted by each Technological University and the Higher Education Authority is currently evaluating them, acknowledging the significance of addressing student accommodation requirements in regional campuses. This approach, coupled with a study on standardised design for student accommodation which is due for completion in Q4, 2024 will shape future delivery of accommodation for our students.

Minister of State Niall Collins said: "These short-term activation measures, such as the one announced for UCD today, have been successful in re-activating projects with planning permission already in place that otherwise could not progress without State funding. However, there is a lot more to do. While the short-term activation measures are progressing, the longer-term plans have been in development.

"The agreed longer-term approach will include a focus on balanced regional responses for additional student accommodation with the Technological Universities (TUs), utilising a standardised design approach for new student accommodation. This policy will also focus on refurbishment and vacancy to deliver additional supply."

Minister of State Ossian Smyth said: "Today's announcement of over 1,000 new student beds is further evidence of this Government’s commitment to increase the supply of housing for all our citizens. This significant State investment will be the catalyst for further phases of development at both UCD and DCU which together will deliver over 2,500 new beds for future students of both campuses.

"Following the success of these short-term measures, I also look forward to the end of the year when we will bring forward standardised designs for student accommodation which will ensure a sustainable model for future development which demonstrates value for money and affordability."