Dublin City Council (DCC) and Tuath Housing today officially opened De Verdon Place, a major new housing development that marks a significant milestone in the city’s efforts to address the housing crisis. This project is one of the largest public housing developments in Ireland and will provide affordable housing for over 500 citizens.

The development, built by GEM Construction, offers a range of housing options, including one- and two-bedroom apartments. In addition to residential units, De Verdon Place features community spaces such as rooftop gardens, an outdoor playground, and a crèche.

The cost rental homes at De Verdon Place are funded through the Cost Rental Equity Loan (CREL) from the Housing Finance Agency and the Department of Housing. This innovative funding model allows for rents to be set at 31% below the local area average, making the homes affordable for many Dubliners. Rents for the cost rental homes start at €1395.

The development includes a mix of cost rental and social homes. A total of 77 cost rental homes are available, while 161 social homes will be allocated to those on the housing waiting list.

The launch of De Verdon Place represents a significant step forward in Dublin City Council’s commitment to providing affordable and sustainable housing for its residents.

Councillor Naoise Ó Múirí on behalf of the Lord Mayor of Dublin said: "It's great to see the delivery of Dublin's first set of cost-rental homes happening right here on the Northside. I wish our new tenants every success and I hope that they will be very happy here. I look forward to Dublin City Council scaling up its work with development partners to deliver more cost rental, social and of course affordable purchase homes for our communities right across the City."

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Minister for Housing, Darragh O'Brien, said: "It's great to see the scale of Housing for All at work on the ground here today. This development will provide secure, high-quality homes which will make a real difference in the lives of hundreds of families and individuals. It's clear that the hard work and effective collaboration between local authorities like Dublin City Council and Approved Housing Bodies such as Tuath is delivering the quantity and mix of homes which are needed to meet our ambitious housing targets. It's especially significant that this development contains Dublin City's first cost-rental homes. The first of many. Cost rental is a key element of Housing for All and has already been extremely successful in providing stable, affordable, long-term rental homes for individuals and families. A recent report which Tuath commissioned in partnership with our other AHBs, found that 84% of respondents described their Cost Rental tenancy as very secure, many of the residents noted that the quality and size of their cost rental home was far superior to their previous accommodation in the private rental sector and that over 70% report having a positive relationship with their AHB landlord. As we continue to scale up cost rental delivery, we remain committed to providing affordable, sustainable and suitable housing options."

Richard Shakespeare, Dublin City Council, Chief Executive, said: "De Verdon Place is a fantastic new housing development with a great mix of tenure. The development is in a wonderful area on the Northside of Dublin with an array of amenities, facilities and services nearby. We would like to thank Tuath Housing for partnering with us to deliver De Verdon Place development. Finally, I'd like to warmly extend my best wishes to all the new residents as they embark on this exciting new chapter of their lives in their new homes."

Paddy Gray, Chair of Tuath Housing association, said: "At Tuath, we are committed to providing secure, high-quality homes that are as affordable as possible for people across Ireland. We are delighted to be involved in the delivery of Dublin City Council's first cost rental homes. As Ireland's leading cost rental housing provider, we continue to support the Government and local authorities nationwide in the delivery of homes under this model. De Verdon is a prime example of working in partnership and emphasizes our dedication to expanding cost rental housing, ensuring long-term security, comfort, and high-quality accommodation in great communities."