Circle VHA deliver 113 cost-rental homes in Castletroy
The 113 homes consist of 57 cost-rental and 56 social houses in the Mills housing estate
CIRCLE Voluntary Housing Association (VHA) has commenced occupancy of 113 homes in Limerick in an effort to provide diverse and affordable housing options.
Circle VHA secured the occupancy of the 113 homes in the Mills, Castletroy and they are the first approved housing body (AHB) to introduce cost-rental homes to Limerick.
Their initiative aims to respond to the escalating demand for rental housing, particularly in a market where rents have surged by 17% year-on-year.
Cost rental homes provide a long-term, secure rental option to individuals working in the area with a maximum net household figure below €59,000. These are households who face challenges affording private rented accommodation. The rent is based on the actual cost of constructing, managing, and maintaining the homes, resulting in more affordable housing solutions.
The Mills signifies a notable stride towards enhancing affordable housing options in Limerick. 68 of the 113 homes were successfully delivered in 2023, with the remainder due for delivery in 2024.
The 113 homes (57 cost-rental and 56 social homes), falling within the larger context of a 224-home site, were designed to cater to a wide spectrum of housing needs offering 2 and 3-bedroom A-rated terraced and semi-detached homes.
According to a spokesperson for Circle VHA, “the Mills development offers spacious homes with ample parking facilities with residents benefiting from a well-planned urban layout and a pedestrian-friendly public space within the development”.
“The homes are conveniently located adjacent to the Castletroy Town Centre shopping centre, just 7 kilometres from Limerick city centre. Castletroy has plenty of excellent public transport links, while for motorists, the nearby M7 provides easy access to Dublin and other towns across the country,” the spokesperson said.
A new cost-rental tenant at the Mills said their family was looking to settle into more suitable accommodation after spending six years living in Limerick.
“With the ever increasing rent rate, as an average earner, this became a pipe dream for us. The option of cost rental couldn't have come at a better time when we were losing hope of renting a suitable home, whilst remaining in the community of Limerick. With its modern facilities in such a serene location as Castletroy, our new cost rental home is the perfect solution for us as a family,” the tenant said.
CEO of Circle VHA, John Hannigan called the Mills a “transformative project”.
"Circle VHA is committed to providing a valuable pipeline of affordable, secure, and long-term rental accommodation through our cost rental homes. Our visionary approach includes the delivery of mixed tenure housing estates, offering a diverse range of housing options to foster inclusive communities,” Mr Hannigan said.
“This commitment extends to both cost rental and social homes, allocated equitably either through the local social housing list or by lottery, ensuring that a variety of individuals and families can find suitable homes within the same neighbourhood and community.
Our conviction is rooted in the belief that by providing secure and affordable choices, we enhance individual well-being and contribute to the diversity and stability of the evolving housing landscape in Limerick. We express sincere gratitude to our key stakeholders, including Cairn, the Department of Housing, the Housing Finance Agency and Limerick City and County Council,” he added.
Mayor of the City and County of Limerick, Cllr Gerald Mitchell says cost rental provides a solution for workers.
“I’m delighted to see the progress being made at the Mills by Circle VHA, in collaboration with Cairn, Limerick City and County Council and other stakeholders. The challenge of obtaining affordable housing not only causes worry and tension among workers but also affects local employers' competitive edge and their capacity to draw and keep talent. Cost rental homes offer a solution, providing households with greater stability while reducing financial burden. Additionally, there are several projects underway in Limerick at the moment that promise to provide more cost rental and affordable sale options for the workforce in the near and distant future.”