Construction Ireland Construction Directory
Time and date
Share this page
Construction News

New Funding To Deliver Affordable Homes For Rent Announced

Construction News Image
Communities Minister, Gordon Lyons, has announced a funding offer to build more affordable homes for lower income tenants as part of the forthcoming Housing Supply Strategy.

The Intermediate Rent scheme will provide funding through a long-term, low-interest government loan to an operator. This operator will then develop a new inventory of affordable homes for rent. Developed after thorough engagement with the sector to assess the scheme's appeal and feasibility, this funding initiative will bring to life the Department's Intermediate Rent policy.

Intermediate Rent introduces a fresh category of affordable rented housing, positioned between social housing and the private rented sector in terms of cost. It ensures a high standard of quality and increased security. By featuring homes with discounted rents, it opens access to individuals with lower incomes. This option can serve as an alternative for those grappling with affordability, whether they're saving for homeownership or awaiting a social home.

-- Advertisement --

In a statement, Mr Lyons said: "As Minister for Housing, it is my priority to bring forward a range of measures to ensure working families have access to safe, secure, and affordable housing. Intermediate Rent is a key strand of this. The funding available to deliver intermediate housing for rent will create a supply of homes offering another housing option for those who find themselves priced out of the mainstream rental market.

"Many people are struggling to access a home suited to their needs, exacerbated by increasing rents and insecurity in the private rented sector, while demand continues to exceed supply for social homes."

"Growing the supply of more affordable, better quality homes for rent with longer-term tenancies is a key commitment for my Department. The Intermediate Rent scheme will complement the Social Housing Development Programme, supporting people who might otherwise struggle to find rented accommodation, putting a home within reach of individuals and families. We are inviting potential operators to submit an application to run this innovative scheme, which will offer a more secure, cost effective and sustainable housing option."

The funding will facilitate the construction of 300 new affordable Intermediate Rent homes in Northern Ireland during the initial phase. These homes will be accessible to qualifying lower-income households, offering discounted rents set at a minimum of 20 per cent below the local market rates. The availability of these homes for rent will be advertised and applications will be accepted from eligible households.

Applications for funding will close at 4pm on 23 August 2024.

Latest Construction News


Ireland's largest construction firm Sisk has been appointed by Manchester City Football Club as construction contractor for the €350 million development of the Club's best-in-class fan experience and year-round entertainment and leisure destination at the Etihad Stadium. The development will ...

Bord Gáis Energy and Corio Generation have partnered to explore opportunities to supply Ireland's electricity market with green electricity from offshore wind. The agreement represents Bord Gáis Energy's entry into the offshore wind arena and will play an important role in its ongoing commitment ...

Lowry Building and Civil Engineering is making significant progress on a regeneration project in Castlederg. Today, 24 May, plans have been unveiled at what the Diamond will look like once the works are completed. The project is just one element of the wider Derg Active scheme, an integrated ...

Shareridge has almost completed work on the €19m Windmill Hill Reservoir and Trunk Watermain to Ratoath project. Minister Thomas Byrne and councillors from East Meath visited the project this week. Describing it as a "milestone project", Minister Byrne welcomed the fact that Uisce Éireann crews ...

Mid and East Antrim Borough Council has announced that work is now underway on a new skate park at Larne Town Park. The design has created a layout that has interlinking features and multi directional items to ensure as the rider become more proficient - new challenges will become available ...

Refurbishment work on phase one of the Eglinton Barn and Yard conservation in Glenarm has been completed. Mayor of Mid and East Antrim, Alderman Gerardine Mulvenna, officially opened the Council facility, unveiling a plaque at an event showcasing the venue. Council worked closely with the Glenarm ...

RoviSys has opened a new office in Dublin, Ireland. Strategically positioned in the heart of Europe, the expansion underscores a commitment to growth and its dedication to serving clients across the European Union. The new office in Dublin marks a significant milestone in the RoviSys strategic ...

The Green Party NI has welcomed the General Election announcement and said it will "give voters the opportunity to vote for real climate action". The election is to be held on 04 July. Green Party NI leader Mal O'Hara said: "After 14 years of Tory rule, which has been dominated by reckless Tory ...

Cork City Council has announced the official opening of KinShip EcoLab will take place at 1-2pm on 31st May 2024. It is an outdoor hub for ecological creative and educational activities, public workshops, gatherings and events by local groups and organisations which focus on biodiversity, waste ...

Several Housing Executive garages are now available to rent at various locations throughout Mid and East Antrim. Tenants and residents in the Ballymena, Carrickfergus and Larne areas are being invited to apply to rent the garages, which are available at a very competitive rate of around £12.43 per ...
Northwest Drilling ServicesMaterials Market LtdToner Damp Proofing SuppliesDavid Grogan Safety TrainingIFoam InsulationFox Excavations & Plant HireAcara Concepts Ltd IrelandVoltaic Energy SystemsCustom Crate SolutionsSpeir Ard Limited
Terms and Conditions
2024/05/25 19:13:30