Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

The theory is good but my only concern is with how it is working in practice. I take on board what Mr. Coleman is saying in relation to some factors he does not have control over but the overall cost per home is still coming in at, there or thereabouts, what it is on the open market. For the apartments in Dún Laoghaire, for example, one is looking at up to nearly half a million euro. One is looking at close to €450,000 to €500,000 per unit. That is the only concern. Obviously, to go back to Mr. McGuane's contribution, the rents have to be predicated on that or the sale price. We understand that because, as the years move on, the project has to wash its own face. They money has to come back in to make up the shortfall which is happening at the moment because you are not far enough down the pipeline. As you get further on in it, there will be more rents coming in. There will be more bought. It fills up the coffers, which then can be reinvested. That is the only concern. A number of Deputies expressed that here this morning - we really have to try to get the overall cost down.

We live in the real world. If a public body wants four windows replaced in a development or if they want a bicycle shed or a security hut erected, it costs a lot of money to get things done at the moment.