Taoiseach Simon Harris has proclaimed the Housing Development Agency’s (HDA) Shanganagh Castle project in County Dublin as a “paragon” for future developments. The project, with almost 600 homes, is the first of its scope by the HDA on public land. Closer to half of the 597 homes are set up and ready to be occupied in the Shanganagh vicinity of County Dublin. The collection of residences includes affordable, cost-rental, and social homes.
Since the establishment of the HDA in 2019, the Shanganagh Castle project is the largest it has endeavoured. The HDA teamed up with the Dún Laoghaire Rathdown County Council to carry out the project. So far, under the initial phase, 281 A2-rated homes have been constructed and are set to be presented to likely buyers and tenants, with 195 as cost-rental and 86 as affordable homes.
Cost-rental homes are anticipated to rent from €1,175 each month, implying 25 per cent below current market value. Two-bedroom affordable homes are priced at €334,000, while three-bedrooms are about €380,000. According to council CEO, Frank Curran, the median price for a similar property in the county is approximately €650,000. Buyers of affordable houses can also take advantage of state-backed campaigns like Help to Buy.
Upon completion, the project will comprise around 200 social homes. A Dart station is under construction nearby to cater to the growing population.
Harris commented that Shanganagh Castle is a “benchmark,” and that the country desperately needs to hasten such models to provide for the housing demands of the society.
During the launch, both Harris and Darragh O’Brien, the Minister for Housing, underlined the success of the HDA model which constitutes much of the Government’s housing strategy. In the forthcoming election, the HDA’s performance will be a focal discussion point as Sinn Féin, the primary opposition party, is advocating for its dissolution and incorporation into two separate agencies.
“We have provided 116,000 homes till July this year as a government,” O’Brien stated.
The CEO of the LDA, John Coleman, has stated that the agency now has 18,000 homes in the pipeline, and by the end of 2025, between 6,000-7,000 of them will be under construction. Moreover, he announced that planning permission had been resubmitted for the construction of 934 homes at the location of Dundrum’s former Central Mental Hospital.
However, Eoin Ó Broin, the housing spokesman for Sinn Féin, responded to these claims, suggesting that the prices being publicly quoted by the Coalition and the LDA are deceptive. He asserted that as prices are linked to the market value, rather than the cost of production, both the rental costs and the state’s share of equity would be higher. Ó Broin speculated that larger three-bedroom homes could have state equity as high as €170,000, and rent for such properties could surpass €1,800 per month.