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Irish €1.25bn agency to build 150,000 homes

Sep 2018 General, Latest News | Comments Off on Irish €1.25bn agency to build 150,000 homes

The Irish Government has launched the Land Development Agency (LDA) to build 150,000 new homes over the next 20 years as the next step of Project Ireland 2040.

The new Agency has an immediate focus on managing the State’s own lands to develop new homes, and regenerate underutilised sites. In the longer-term, it will assemble strategic landbanks from a mix of public and private lands, making these available for housing in a manner that brings essential long-term stability to the Irish housing market.

An Taoiseach Leo Varadkar said the LDA will come to be seen to be as significant as the decision to establish the ESB or Aer Lingus.

The new Agency has an initial pipeline of State land, which is capable of delivering 10,000 homes, with 3,000 of those homes on lands which have already been secured.

The LDA will have two main functions:

  • Coordinating appropriate State lands for regeneration and development, opening up key sites that are not being used effectively for housing delivery
  • Driving strategic land assembly, working with both public and private sector land owners to smooth out peaks and troughs of land supply, stabilising land values and delivering increased affordability.
  • By assembling land packages ahead of the planning and infrastructure stages, the Agency can lower development land costs and tackle upward pressure on house prices.

    The Agency will be a commercial State-sponsored body, acting within a clear Government policy framework: that all public land disposals must deliver at least 40% of any housing potential on such lands in the form of social (10%) and affordable (30%) housing.