Malcolm Noonan (Carlow-Kilkenny, Green Party) | Oireachtas source

The Government is focused on ensuring that affordable and high quality housing solutions are available to everyone in society. This is clearly reflected in the programme for Government, Our Shared Future, which confirms our view that home ownership should be a realistic aspiration for people. Everyone should have access to good-quality housing to purchase or rent at an affordable price in connected and sustainable communities.

I reiterate that the Minister, Deputy Darragh O'Brien's, priority is to bring forward measures starting next year and continuing over the lifetime of the Government to enable more people to buy and own their own homes, something that previous generations were able to do through increased supply and policy interventions that made home ownership more accessible and affordable.

These commitments were reflected in budget 2021, which provides for an overall investment of €3.3 billion for the delivery of housing programmes. This represents an increase of €641 million, or 24%, on 2020 and the single biggest spend on housing by any Government in the history of this State. In addition, it will be the largest build programme in the history of the State.

The budget also provides for a suite of affordability measures totalling €468 million. This will be spread out across the serviced sites fund, the local infrastructure housing activation fund, the Rebuilding Ireland home loan scheme and the Land Development Agency. Importantly, €110 million of this amount will be provided to deliver a new national affordable purchase shared equity scheme for first-time buyers and a new funding model to accelerate the delivery of cost-rental homes through the approved housing body sector.

Within four short months, this Government has risen to the challenge and shown our commitment to affordable housing and cost rental by allocating funding towards these two schemes and towards delivering homes from next year.

In terms of the old Irish Glass Bottle site, the regeneration of Poolbeg West is the next important step in transforming the docklands area, given its strategic location east of Grand Canal Dock with close proximity to important bridge connections to Dublin Port and North Lotts. The extent of vacant brownfield land available at Poolbeg West is significant, at 34 ha. The residential potential within the available lands is for a maximum of 3,500 additional residential units at a gross residential density of up to 238 units per hectare on lands over 14.7 ha to the south of South Bank Road. This estimated housing yield would be sufficient to support a residential population of approximately 8,000 people and, therefore, would make a significant contribution to the city's housing needs.

It should be noted that the National Asset Management Agency, NAMA, as the responsible agency, retains responsibility regarding a decision to proceed with the competitive process to develop this site. NAMA has confirmed the competitive process adopted was designed to achieve best financial return in line with the requirements of the NAMA Act and facilitate delivery of much needed housing in Dublin.

On the wider activation of these lands, I understand that, having decided to embark on the competitive tendering process in July last, NAMA named a preferred bidder to acquire 80% shareholding. NAMA will retain a 20% shareholding. A condition of the planning of the scheme, as modified by An Bord Pleanála on 9 April 2019, provides for 15% social and affordable homes on this site, in addition to the 10% statutory under Part V arrangements, which still stand and are applicable. As such, it is envisaged that at least 350 of the planned 3,500 homes on the site will be designated for social housing and at least 525 will be for affordable housing.

For our part, subject to the overall progress of the project, my Department remains ready to work with Dublin City Council, any relevant approved housing bodies and the receiver and-or developers of the strategic development zone, SDZ, area to progress this site, subject to agreement on all normal and relevant terms, including the value for money aspects.

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