Applications for new Cost Rental homes in Waterford sought as rents are revealed

Tuath Housing, a not-for-profit Approved Housing Body, is seeking applications for 49 brand-new cost rental homes which are under construction in Waterford city.

Built by Frisby Homes, the Mountneil development features energy-efficient, A-rated two and three-bedroom houses which offer high-quality living at exceptional value.

With rents set at €950 for a two-bed and €1,195 for a three-bed, these homes are priced an impressive 28% below the local market average for similar properties. The homes will be delivered in two phases, with availability expected between December this year and March 2025.

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Tuath Housing says it's is proud to deliver these homes with the support of Waterford City and County Council through the Department of Housing’s Cost Rental Equity Loan scheme and with private financing from the Housing Finance Agency.

Applications will be processed through an online lottery system, with successful applicants notified once the process concludes.

Cost rental housing is designed to provide affordable, secure accommodation for those on middle incomes, with rents based solely on the cost of construction, management, and maintenance. The Mountneil homes are ideally located in Carrickpherish, near a variety of services and amenities, including South East Technological University Waterford, the popular Waterford Greenway, and the SETU Arena, which offers state-of-the-art fitness and sporting facilities.

The new homes represent the first-ever delivery of cost rental housing by an Approved Housing Body in County Waterford.

Commenting following the launch, Tuath Housing CEO Sean O’Connor said: “At Tuath, our mission is to provide high-quality, secure homes that residents can be proud of, while ensuring they are as affordable as possible. The Mountneil cost rental development is another significant step forward in bringing this long-term, secure rental option to people nationwide.”

Sean McKeown, Chief Executive of Waterford City and County Council, added: “Waterford City and County Council continues to lead the way in delivering new social and affordable homes. The development of cost rental homes in Mountneil is yet another important step in towards providing affordable accommodation. The need for affordable housing for households who do not qualify for social housing, but who are not in a position to purchase in the private market is well recognised nationally, and I am pleased to see ongoing progress being made in Waterford.”

For more information on cost rental or to apply, click here.