Bank of Ireland backs €35m social housing project for 142 new homes in Louth

Bank of Ireland has committed to providing €35m in finance for a new 142-unit development in Haggardstown, Dundalk.

The new development in Dundalk will see the delivery of 142 apartment units which will be allocated towards the provision social housing.

The project will be overseen by property development company Bluemont and the bank said the transaction allows it to play its part in supporting the delivery of quality housing whilst also supporting Bluemont.

Bank of Ireland said that: “We are delighted to demonstrate our support for our house builders in delivering much needed homes across the country, a key priority for Bank of Ireland. Socially impactful, sustainable schemes such as this will be critical in that delivery.”

The project promises to deliver an environmentally responsible low-impact development, aligning with Bluemont’s and Bank of Ireland’s commitment to sustainability. Each unit will be constructed to a minimum BER A3 Rating, ensuring long-term energy efficiency and lower utility costs for tenants.

Bank of Ireland recently stated an ambition to support the construction of 30,000 homes across Ireland  an increase from its previous target of 25,000.

“We are thrilled to partner with Bluemont on this transaction and I would like to thank them for their ongoing support,” said Andrew Conway, Associate Director, National Housing at Bank of Ireland Corporate & Commercial Banking.

“Once again, we are delighted to demonstrate our support for our house builders in delivering much needed homes across the country, a key priority for Bank of Ireland. Socially impactful, sustainable schemes such as this will be critical in that delivery’.

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Bluemont have successfully delivered over 500 high quality homes in recent years including Carrs Lane, a development of 60 apartments which was shortlisted for an Irish Construction Excellence Awards for Social and Affordable Housing.

“Bluemont is delighted to complete our latest transaction with Bank of Ireland which secures financing of our Dundalk development,” said Sean Corroon, CFO, Bluemont.

“With a strong pipeline of over 1,000 units at various stages of planning and construction, Bluemont continues to build high quality homes throughout Ireland and we are grateful for the strong support from Bank of Ireland.”