ICSH Launch Summer Newsletter 2018
After several years of a very challenging acquisition process, Túath completed the purchase of 26 apartments at Northbank, Castleforbes, D1, for just under €5M. The apartments have been refurbished and comprise a mix of 6 x one beds, 16 x two beds and 4 x three beds. The homes were bought under Section 25 (DDDA Part V) from a receiver. At an average €190,000 per property, the acquisition represents excellent VFM (value for money). No capital finance was required from the DHPLG with loan funding provided entirely by the Housing Finance Agency on a 25 year term at a fixed interest rate of 3.5%, resulting in an overall Loan to Value of 63%.
The acquisition of the Northbank apartments topped off a busy fortnight for Túath with the completion of seven different developments in collaboration with six local authority partners in Meath, Roscommon, Wicklow, Kildare, South Dublin and Dublin City.
New Northbank tenants enjoying the fine weather whilst getting their keys at Túath HQ.
Wheatley Housing Association CEO explores collaborative possibilities with Túath’s CEO on Dublin visit.
Martin Armstrong, group CEO of Scotland’s largest Housing Association with over 82,000 homes were over in Dublin on the 10th and 11th of May to explore collaborative opportunites with Túath .
Túath allocate another 29 homes in Louth
The association have recently handed over keys for 29 new build turnkey homes within the Castleguard Development in Ardee to some very happy tenants from Louth County Council’s housing list. These units represent the first phase of a much larger scheme which on completion will result in the provision of more than 100 much needed homes in Ardee. This project is a result of collaboration between Túath, Louth County Council and the developer Quarry Road Developments. Finance for this development was provided via a combination of CALF funding from the DHPLG and private finance from the Housing Finance Agency.
New Homes for Navan
Túath are delighted to have acquired a number of Part V social homes in Athlumney, Navan, CO. Meath. As per the planning regulations a minimum of ten percent of all new housing developments are allocated as social housing and Túath acquired these much needed family homes on behalf of Meath County Council. This acquisition was supported by Council and funded using CALF funding from the Department of Housing, Planning and Local Government (DHPLG) and EIB funding through the Housing Finance Agency (HFA).
Some lucky families from Meath County Council’s housing waiting list have already moved in to these fine homes with more families are preparing to move in soon.
We wish the very best to these families in their new homes and thank Meath County Council, DHPLG and HFA for supporting and funding these homes.
Seaside Living at in Greystones
Túath are delighted to have acquired 5 beautiful Part V social homes in Greystones, Co. Wicklow. The acquisition of these 5 family homes was supported by Wicklow County Council and funded using CALF funding from the Department of Housing, Planning and Local Government (DHPLG) and EIB funding through the Housing Finance Agency (HFA).
The five lucky families are getting ready to move into their forever homes just in time for Summer.
We wish them all the very best and thank Wicklow County Council, HFA and DHPLG for making it happen..
Ard Dealgan, Dundalk: Lease signing ceremony – Louth County Council
A contract signing ceremony for the regeneration of Ard Dealgan in Dundalk to mark the start of bringing this important town centre housing scheme back into use was held on the 5th March 2018. Túath are thrilled to be involved in this ground-breaking public, private, voluntary sector collaboration and have signed contracts with Celtic Social Housing Development Co Ltd to bring 68 homes at the Dundalk development back into use. The complex, which is being refurbished will be made available to applicants on Louth County Council’s social housing waiting list in mid-2019. With over 4,400 people on the Council’s waiting list this is vitally important work to provide affordable housing for those who cannot provide homes for themselves in the private market.
Ard Dealgan has lain vacant since it was the subject of a Fire Closure Notice in 2009. Louth County Council had begun a Compulsory Purchase Order process when the site was sold out of receivership to Celtic Social Housing Development Co Ltd, who offered the Council to refurbish the building for social housing. In 2019 it will reopen as Halliday Mills, named after Arthur Halliday, who employed more than 1,000 people in his shoe factory in the 1960s, located on this site. Upon completion the redeveloped complex will contain 68 apartments, comprising 10 one-bed, 46 two-bed and 7 three-bed apartments, as well as 3 two-bed and 2 four-bed duplexes.
Túath look forward to working with the Council and Celtic Housing and to the transformation of Ard Dealgan into the new Halliday Mills and most importantly to the time when new residents move in to create homes and to start in earnest the process of sustainable place-making. For Túath, Ard Dealgan represents an opportunity to grow its social housing portfolio in County Louth from its current 175 homes. With other social housing developments in planning or on site in the County in partnership with the Council, Túath aims to have over 500 homes in Co Louth by end 2019.
Túath had a very successful awards night at last week’s All Ireland Chartered Institute of Housing awards in the Titanic Building, Belfast.
Túath were shortlisted for four awards and were thrilled to come away with two overall awards and one highly commended award.
Abbot Court, Dun Laoghaire was the first shortlisted development up for an award and we were thrilled to get second place and ‘Highly Commended’ in the category for Best Large Development.
The Best Housing Team category was fiercely contested but our very own New Business Team prevailed to win this award for the outstanding delivery of 806 social homes in 2017.
The Best Housing Story was awarded to Dublin City Council in partnership with Tuath for Ffrenchmullen House, Charlemont Street. This award was voted for by the public.