Clúid Housing, Ireland’s leading approved housing body (AHB), has today completed the purchase of 62 apartments at Park Avenue, South Douglas Road, Cork.
The purchase will see families and single people on Cork City Council’s housing list offered high-quality, long-term, affordable housing on the southside of the city.
The scheme comprises of 18 one-bedroom apartments, 40 two-bedroom apartments and four three-bedroom apartments.
The scheme, which is broken into four apartment blocks, also has 82 car parking spaces at basement level.
New Business Manager with Clúid Housing, James O’Halloran, said that the purchase represents the continued desire of Clúid to grow in Cork.
“With this purchase, we now have over 1,100 homes in the county of Cork, with 300 in the city. Allied to that, we are working to deliver major schemes in Blackpool, Kinsale and Bantry over the coming years.
“This purchase ensures that over 60 families and single people who are currently on Cork City Council’s housing list will be able to move into high-quality, long-term housing and begin the next chapter of their lives with certainty of tenure and affordability.
“This purchase could not have been completed without the buy-in from all of the relevant stakeholders, from Cork City Council to the Department of Housing and the Housing Finance Agency.”
Brian Geaney, Director of Housing at Cork City Council, said the scheme was yet another success in a long history of collaboration between Cork City Council and Clúid.
“We are delighted to have worked again with Clúid to provide more homes in the extended City. The Council will continue to make innovative interventions like this one to play its part in the Government’s Rebuilding Ireland Action Plan for Housing and Homelessness’’.
Clúid’s purchase of Park Avenue follows its acquisition in March of the Leeside Apartments on Bachelor’s Quay in the city centre. In total, Clúid now owns and manages over 7,200 homes across Ireland.
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.