Contract awarded for 465 social housing units across eight sites
Waterford is set for a number of new social housing units within 18 months.
58 units will be delivered at Slievekeale by Waterford City and County.
The National Development Finance Agency (NDFA), part of the National Treasury Management Agency (NTMA), announced the contract award of the Social Housing Bundle 2 Public Private Partnership (PPP) project to Torc Housing Partnership on Thursday.
Bundle 2 comprises eight sites for the development of 465 social housing homes across counties Cork, Clare, Galway, Kildare, Roscommon and Waterford.
Construction of the 465 units will commence immediately following the award of the contract, with construction expected to take between 14-18 months.
County Cork is leading the way in Bundle 2 of the PPP Programme, with 152 of the 465 new social homes being delivered on three sites across the county. In 2016, only 45 social homes were delivered in Cork City and County. Since then 680 new social homes have been built, and another 885 are currently onsite. All of this has happened under Rebuilding Ireland.
Using a payment and availability PPP agreement to construct social housing is a new innovation in Ireland, with the first such homes commencing construction under Bundle 1 earlier this year. This approach leverages economies of scale through large numbers of homes being tendered, constructed and maintained for 25 years in bundles of sites. Competitive private financing and cooperation between construction, facilities management and tenancy management bodies are brought together through consortia that bid for each bundle.