Applications for cost rental homes from €1,350 a month are being opened today by the Land Development Agency (LDA).
This is the first time cost rental homes under Project Tosaigh have been unveiled in Dublin.
A total of 95 properties will be released in Citywest and 142 in Delgany.
Rents start at €1,350 a month for a three-bed, two-storey terraced house. The monthly rent for a four-bed, two-storey terrace is €1,450. While rent for a four-bed, three-storey, terrace is €1,460.
Housing Minister Darragh O’Brien, said: “Project Tosaigh is just one of a number of initiatives the Government has introduced to speed up the delivery of affordable housing.
“It’s great to see an increasing number of new and energy-efficient homes being offered at reduced rents to families and individuals.
“This is a direct result of Government intervention and is being made possible by an increased investment in housing.”
The LDA said the “rents involved are considerably below market rents,” and eligible tenants must have a net household income of below €53,000 a year.
This income ceiling has been established, the agency said, to offer an option for those with “low to moderate incomes, who do not qualify for social housing.”
The houses in Citywest are three and four-bed family units in Parklands on Fortunestown Lane. They will be released in phases over the next 16 months, starting with the first 22 units.
The remainder of the Citywest houses will be delivered in subsequent phases.
Applicants are being advised to apply now as their enquiries will also qualify them for future releases under this scheme.
All applications will be processed through the LDA’s lottery system. The process opens today from 12pm.
The LDA is also releasing a second phase of 24 duplex units of 12 two-beds and 12 three-beds. The monthly rent for a two-bed is €1,455 and the rent for a three-bed is €1,550. These rents are about 30pc below market rents in the area.
Applications for this second phase of homes in Archers Wood, Delgany, are also opening today at midday and will also be processed through the LDA’s lottery system.
A further phase of cost rental releases in Archers Wood is due to be launched in the coming weeks. It will involve 95 apartments including 37 one-beds, 52 two-beds and four three-beds with rents of €1,220 for a one-bed, €1,445 for a two-bed and €1530 for a three-bed.
The homes are in areas where purchase stalled or became unviable. The LDA makes such properties available on a cost rental basis, or to purchasers at an affordable cost. All of the latest releases by the LDA involve cost rental units.
The LDA has already released phase one of its 142 cost rental homes in Archers Wood in Delgany, and tenants are occupying 24 duplex units.
Chief executive of the LDA John Coleman, said: “The LDA is delighted to announce the release of these new cost rental homes and we look forward to handing over the keys to eligible and successful applicants.
“Project Tosaigh is proving to be a significant initiative and is now delivering affordable purchase and cost rental housing throughout the country.
“This is a positive development and we will be making a series of similar delivery announcements in the coming weeks and months.” More details will be available on the LDA’s website.