Clúid closes purchase of 78 apartments at Leeside, Cork City
Clúid Housing, the country’s largest approved housing body (AHB), has today completed the purchase of 78 apartments at Leeside in Cork City.
The four blocks, located at the heart of Cork City, have undergone a multi-million euro refurbishment following their vacation last year. Clúid will use the units to provide long-term, quality housing for people on Cork City Council’s housing list.
Private tenants in the blocks will benefit from Clúid’s management of common areas as their tenancy switches to the organisation.
James O’Halloran, New Business Manager at Clúid, said that the purchase represents a major milestone for the association.
“These units are finished to the highest standard and will provide people in Cork City with long-term, secure homes.
“Clúid has worked with Cork City Council to deliver these units in a matter of months and we hope to begin the process of filling the units next week.
“This project shows what can been achieved when stakeholders who are committed to housing delivery work together.
“This purchase will help us in our aim of delivering 2,500 homes over three years.”
Brian Geaney, Director of Services for Housing at Cork City Council, said:
“This project is another example of the Council taking a pioneering role in relation to the delivery of social housing and its willingness to take a multi-faceted approach to finding solutions to housing challenges in the City.”
He paid tribute to Clúid Housing Association “for its professionalism, agility and commitment which were all necessary for the efficient delivery of a residential scheme of this scale in a city centre location.”
Leeside is part of Clúid’s ongoing work in Cork. The association currently has planning permission for 112 units in Blackpool on the city’s northside and is working with Cork City Council and developers to identify additional sites.
Clúid is financing the development of these units through a combination of a Capital Advance and Availability Payment from the Department of Housing, Planning and Local Government and a loan facility with the Housing Finance Agency (HFA). Cork City Council will act as a conduit for the departmental funding.
The rent on the units will be based on Cork City Council’s rent policy and the council will retain full nomination rights on the properties.