The investment group behind IKEA has announced plans to build 250 units of social housing across Dublin.
Ingka Investments has confirmed plans to gradually provide the units over the next three years, with an initial focus on the Dublin area. While Ingka Group represents IKEA, the retailer itself will have no involvement in the project.
The parent company also intends to build community centres and playgrounds in the areas surrounding the planned social housing. The investment approach is to rent the builds out to local authorities and eventually transfer them over once the lease period ends.
READ MORE: Housing crisis Ireland: Just four homes built per 1,000 people in Dublin last year
Peter van der Poel, Ingka’s managing director, said: “I hope this project will provide an innovative, community focused template for social housing provision in Ireland, demonstrating a new way for companies like ours to be part of the solution.”
Aurium Capital, an investment manager, is responsible for leading the construction of the new build developments. Each project will compromise around 50-70 units to ensure minimal disturbance to local services and neighbouring communities.
Construction is set to commence in the coming weeks and will last approximately 36 months. Previous research revealed that 2,600 people had been on Dublin’s social housing list for over 10 years. The demand for social housing units was highest in areas such as Coolock, Kilbarrack and Darndale.
READ MORE
Over €15 million in vacant site levies owed to Dublin City Council
Dublin City Council lower Local Property Tax despite €50 million hole in budget
Dublin jobs: Penneys now hiring retail assistants for Christmas
Two gardai patrolling O'Connell Street with shutters still up on new station
Ex-wife of Irish footballer Shay Given in court battle after dumping wealthy businessman
Sign up to the Dublin Live Newsletter to get all the latest Dublin news straight to your inbox.
