Niall Collins (Limerick County, Fianna Fail) | Oireachtas source

I thank Deputy Richmond for raising this matter as it gives me the opportunity to set out for the House the position with regard to UCD's decision. We are very aware of the difficulties faced by students trying to secure accommodation. It is an issue that we are actively pursuing and resolution is a high priority for the Department as a whole.

In September 2021, the Government launched Housing for All, led by the Minister for Housing, Local Government and Heritage. It set out a series of over 200 actions which will be delivered to address the housing crisis, backed by a transformative budget of €20 billion. Actions 11.5 and 11.6 activate existing planning permissions and set out my Department's responsibilities.

These are to bring forward a range of potential options for State support to assist activation of new, additional, purpose-built student accommodation units and to develop policy and methodology for potential short-term State supports for proposals for the construction of purpose-built student accommodation by higher education institutions to provide additionality for targeted cohorts where planning permission has already been secured. This includes the examination of relevant EU rules together with a borrowing framework and financing options for technological universities.

The cost of construction and the cost of finance are obstacles hindering the HEIs from delivering on-campus accommodation at affordable rents for students. These have also influenced the decision by UCD to postpone the progression of the project at present without significant funding support intervention. My Department is working closely with the HEIs to examine the design specifications and financial modelling for each individual project on a case-by-case basis. Department officials have met with UCD and the Irish Universities Association, IUA, to discuss the projects for UCD's student accommodation. This engagement is ongoing and options are being considered to activate this project.

In October, we updated the Cabinet committee on housing and received support on initial plans for policy development for the provision of student accommodation. We are actively progressing a new policy that bridges the challenges gap between the viability of delivering purpose-built student accommodation and subsequent rental affordability for students. This will include for the first time the State assisting with the cost of building student accommodation beds and unlocking projects which have been postponed in return for the affordable rents for targeted students. Detailed work is currently being advanced with a section dedicated to student accommodation having been established within the Department.

We will also be bringing a memo to Government in late November setting out the short-term activation proposals and the long-term strategic response of the State to the provision of additional affordable student accommodation.

In conclusion, we are finalising a memo to Government at the end of the month for approval on the assessed proposals to facilitate a number of short-term activation options set out earlier. UCD is obviously part of that conversation, as are the University of Limerick, UL, Dublin City University, DCU, NUI Maynooth and others. We also have to be honest that building will take time and we have to examine different options too. We are examining how we can come up with quicker solutions to address the immediate need. We are open to discussion with UCD and any other college that wants to build accommodation. This will be essential if we are to relieve the pressure on the overall housing market and to assist students with the help they need. I would like to thank the Deputy again for raising this matter.

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