Simon Harris (Wicklow, Fine Gael)
Link to this: Individually | In context | Oireachtas source

In November 2022, I received Government approval for a new policy led by my Department, to provide funding to stimulate the development of new and additional student accommodation for public higher education institutions. This landmark policy response will, for the first time, see the State providing financial support in the construction of student accommodation, and underpins the policy commitments set out in Housing for All.

To date, the Government has approved up to €61m in capital and current funding to unlock the development of nearly 1,000 beds, with delivery beginning in 2024. Department officials are also examining additional proposals for potential developments within the HEI sector.

Investment of €1m in 2023/2024 was also announced to support the Technological Universities in conducting activation feasibility assessments to ascertain student accommodation needs in campus locations. This will include data led projections of student numbers and engagement with local authorities to examine potential vacant stock. Work commenced on phase one of the study in June.

The Housing Finance Agency Act 1981, as amended, facilitates lending by the HFA to institutions of higher education, including TUs. My Department and I are working with relevant Government Departments and Agencies to explore the development of a specific borrowing framework for the Technological University (TU) sector. The options arising from the TU feasibility study will inform this ongoing engagement. It is anticipated that any borrowing framework would in the first instance prioritise the provision of student accommodation in line with commitments in the Government's Housing for All plan.