A new affordable housing scheme in Dublin will allow low and middle income earners to buy an apartment for prices starting at €116,000.

Dublin City Council has offered three council-owned sites to developers willing to build affordable homes in the area.

The three sites, two in Ballymun and one in Ballyfermot will include enough space for the construction of over 370 homes.

In Ballymun, the houses are expected to cost around €116,000 for a one-bedroom apartment, and between €148,000 and €168,000 for two-bedroom duplexes and houses.

Three-bedroom duplexes and houses will cost between €176,000 and €200,000; while a four-bedroom house, will cost around €232,000.

Sillogue Road, Ballymun is earmarked for 83 homes – 65 houses, nine apartments and nine duplexes, while nearby Balbutcher Lane would allow for 74 homes, including eight apartments and eight duplexes.

Prices will be higher on the Ballyfermot site, located south of Cherry Orchard Hospital.

Here a one-bedroom apartments will cost around €136,000, while a two-bedroom apartment will cost €180,000.

The most expensive homes proposed are three bedroom houses in Ballyfermot for around €236,000 each.

The developers chosen to undertake the project will not have to make a contribution to the cost of the site and will not pay levies.

Meanwhile the State will fund the infrastructure necessary to service the site costing round €4 million for the Ballymun sites and €7.6 million for the site in Cherry Orchard.

This will be the first affordable housing scheme by the council in the past decade.

One of the groups interesting in building affordable housing on the council’s land, Housing Co-Operative 'Ó Cualann Co-housing Alliance' has already built a similar development in Ballymun.

Chief executive of Ó Cualann, Hugh Brennan said that the combination of mixed income residents and property owners will ensure the development remains at a high standard.

"Everybody in the development is earning, they are working, they have a mortgage to pay, they take pride in their houses and their community.

"You get a very good mix, a great blend of income, age and nationality and I have to say it has been working very well so far."

Ballymun Councillor Paul McAuliffe (FF) said that while it was important that housing is erected quickly, it is vital that the developments have good planning.

"It’s a good model and there has absolutely been interest already," said Mc Auliffe.

"We have to respond rapidly to housing in the area, but everything we do has to have good planning and include mixed income housing, especially in Ballymun where we have previously had problems with socialhousing."

A spokesperson for Dublin City Council said that the current prices are based on present market value and may change at the time of completion of the project.

"It is not possible at this stage to indicate when the new homes will be completed and ready for sale. The City Council is also carrying out market research to ascertain the level of interest in purchasing homes in these areas.

"The figures quoted [above] are only indicative and refer to current market values in the area if discounted. The ultimate cost of affordable homes on these sites will be based on the cost of building the units and the final tenders received. We are not at this stage yet."

Online Editors