Michael Moynihan (Cork North West, Fianna Fail)
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247. To ask the Minister for Finance the number of National Asset Management Agency properties available, which could be utilised for local authority housing in the north Cork area; the steps being taken to resolve the lack of social housing; and if he will make a statement on the matter. [33124/15]

Michael McGrath (Cork South Central, Fianna Fail)
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254. To ask the Minister for Finance the amount of land the National Asset Management Agency controls which is already zoned for housing; the way in which the agency will assist in expediting the provision of social and for-profit housing; and if he will make a statement on the matter. [33163/15]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 247 and 254 together.

I am advised that, through the Department of the Environment, Community and Local Government and the Housing Agency, NAMA has made a total of 1,269 residential units available for social housing in Cork County and City.  Demand has been confirmed by the local authorities for 454 of these, of which 229 have been already delivered and the remainder are in the process of being delivered.  

I am further advised that, nationally, NAMA has made over 6,500 residential units available for social housing.  Local authorities have confirmed demand for 2,500 of these, of which 1,500 have been delivered and the remainder will be delivered over the coming months on the basis of local authorities and approved housing bodies contracting to acquire or lease the properties.  NAMA has invested over €40m to make these properties ready for social housing.

NAMA Asset Residential Property Services Ltd (NARPS) has proven to be a very effective method of delivery and NAMA recently announced its intention to provide future Part V housing on NAMA-funded residential developments through this mechanism. This is a very important initiative, which will mean that NAMA will bear the upfront capital cost of delivering Part V housing on estates that it funds and that such housing will be delivered on site in line with Government policy aimed at ensuring greater integration in housing.

The 6,500 residential properties made available by NAMA for social housing represents the totality of vacant residential properties within NAMA's portfolio that were potentially suitable for social housing.   The 4,000 residential properties not taken up for social housing have been either sold or rented in the private housing market and in that way have contributed to increased market supply.  NAMA has no role in terms of determining the take-up of properties that it has made available for social housing as this is a matter for local authorities. The remaining properties made available by NAMA were ultimately deemed unsuitable by local authorities based on criteria such as their location and on wider planning and housing policy considerations or they were sold or rented by their owners or appointed receivers during the time taken by local authorities to assess and confirm their suitability.

In addition to this initiative, NAMA is funding the construction of new residential properties to help meet demand in the major urban centres.  NAMA has, in this respect, committed to funding the construction of 4,500 new properties in the Dublin area in the three years to end 2016 and is firmly on track to achieve this target.  Last year, NAMA funded the construction of nearly 50% of all new residential properties built in Dublin. 

I am advised by NAMA that approximately 7,599 acres of residentially zoned land secure its loans, however a proportion of this is in areas where there is limited or no demand for new supply whilst, within the main urban centres, residentially zoned land may not be suitable for development in the short to medium term for a number of reasons including infrastructure deficits and other issues.  NAMA has an active land strategy in place for every acre of residentially zoned land in areas where there is demand.  Reflecting this, in Dublin NAMA has an exposure through its loans to approximately 30% of zoned residential land but is currently funding more than 40% of new housing output.

As a member of the Dublin Housing Task Force, NAMA has identified all the Tier 1 lands (i.e. sites with potential to deliver more than 20 units) on its books with residential planning already in place.  These, along with all other non-NAMA Tier 1 sites in the Dublin area, have been published via an interactive map on the Department of Environment, Community, and Local Government website. This action has brought greater transparency to the Dublin market by publically providing detailed information on sites with development potential.

In April 2014, as part of its contribution to address emerging residential supply shortages in the Greater Dublin area, NAMA established a dedicated Residential Delivery team to coordinate and drive the delivery of this commitment and assess the potential for delivery of additional units thereafter.

I am advised that NAMA is currently focused on doing all that is necessary to bring sites in its portfolio to a shovel-ready state and has active strategy in place for every acre of residentially-zoned land within its portfolio. That includes assessing commercial viability and facilitating debtors and receivers in the preparation and submission of planning applications.