Worryingly, the programme promises further pursuit of this elusive and nebulous concept of private developer “viability”. Recent discussion about €6 billion pandemic borrowings is in stark contrast to the silence over a commitment of €10billion in the housing programme for expensive public-private-partnership and enhanced leasing deals. One developer is raising capital internationally for Irish social housing schemes on 25-year enhanced-leases at 95 per cent of market rents. Another offshore fund has leases worth €750,000 each for social housing apartments, with the local authority responsible for maintenance . A visionary housing programme could give citizens a realistic aspiration of owning their own home in sustainable communities, self-funded without subsidy.

Source: The Irish Times June 24, 2020 04:00 UTC