Tenders sought for new social and affordable housing development in Waterford village

Waterford City and County Council has confirmed tenders will be sought in the coming fortnight to construct 28 new social and affordable houses at Farrangarret in Ardmore.

An Bord Pleanála formally approved the project last month despite some local objections.

Waterford-based senator John Cummins, Fine Gael spokesman on Housing, Local Government and Heritage, has welcomed the development.

“I have been working with Waterford City and County Council to progress this development over the past twelve months. While it was unfortunate that O’Cualann Housing Alliance were not in a position to proceed with this development due to the cost profile of the development, I was determined to ensure all was not lost on this critically important scheme for Ardmore and surrounding areas”.

Senator Cummins added: "The team at Waterford City and County Council agreed to take over this scheme late last year and
are absolutely committed to delivering it. They have been working very hard to reduce the risk and costs associated with the development. It is expected that they will use of a competitive dialogue process with the market, as opposed to a direct tender and build. This process has been adopted by some local authorities in recent times to deliver a lower cost profile for the development which is ultimately a positive for would-be purchasers”.

Last November Waterford City and County Council launched an expression of interest portal for those interested in an affordable purchase option in Ardmore.

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Under the Affordable Purchase Scheme, a local authority can take an equity stake of up to 40% to cover the shortfall in the price which can be redeemed at any stage in the future or may be left in place until a future sale of the property.

The scheme is mainly targeted at first time buyers or those eligible for the fresh start principle.

“The strong level of expressions of interest which were received by the council have given them the confidence to proceed to tender with this development. It will also be important in the submission that will ultimately be made to the Department of Housing when the pricing is finalised.”