Nearly 300 New Homes to Be Developed on Public Land Under the Shanganagh Castle Project
The Land Development Agency (LDA), the body assigned with the task of fulfilling the delivery of social and affordable housing on public land, is ready to launch its first major project on state-owned land.
This marks a significant milestone in the government’s strategy to combat the housing crisis by utilising public land for much-needed residential development. The flagship Shanganagh Castle project in Shankill, Co. Dublin, is a collaboration between the LDA and Dún Laoghaire-Rathdown Council and will deliver a total of 597 housing units.
The Shanganagh Castle project development is worth the hype not just for its size but for the mixed tenure of housing it offers, reflecting a key shift in how the State is approaching housing provision. The first phase of the project includes 51 affordable purchase homes, 195 cost rental apartments, and 35 social housing units.
This mix of housing types ensures that the development caters to a wide range of needs, from those seeking affordable homeownership to renters looking for long-term cost stability and lower-income households needing social housing.
This development is only the first of approximately 20 housing projects planned by the LDA, which are set to be completed on state-owned land in the coming years. These projects will cumulatively deliver around 10,000 homes, signalling a significant step in the government’s long-term housing strategy.
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The Shanganagh Castle project represents a model that the LDA hopes to replicate across the country, with the goal of addressing the chronic shortage of affordable and social housing in urban centres.
In terms of affordability, the homes built under Shanganagh Castle Project are designed to cater to middle-income earners who often fall between the cracks of the housing market. These individuals may not qualify for social housing but also find it increasingly difficult to afford homes in the private market due to rising prices.
With government support and equity contributions, the affordable purchase homes will be priced starting at €344,600 for a two-bedroom house. This price structure is designed to make homeownership more attainable by allowing the local authority, Dún Laoghaire-Rathdown Council, to retain a stake in the property.
This reduces the initial financial burden on buyers, who only need to pay off the council’s stake when they sell or fully pay off the home. This innovative model seeks to alleviate the upfront cost of purchasing a home, providing a path to homeownership for those who might otherwise be excluded from the market.
For renters, the 195 cost rental apartments offer a more affordable alternative to market rents, with prices starting from €1,175 per month. The cost rental model ensures that tenants pay rents that are significantly below market rates, providing long-term stability without the risk of sudden rent hikes.
The remaining 316 homes, all of which are apartments, will be made available in two further phases, which are expected to be completed by 2025. Applications for the affordable purchase homes will open on October 9, 2024, with rental applications for the apartments following later in the year.
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The official launch of the Shanganagh Castle project will be attended by Taoiseach Simon Harris and Minister for Housing Darragh O’Brien, underscoring the government’s commitment to the initiative. The project is not only a critical step in addressing Ireland’s housing crisis but also a milestone in the return to direct state involvement in housing provision.
John Coleman, Chief Executive of the LDA, hailed the Shanganagh Castle project as a “landmark” achievement for the agency and a sign that the State is stepping up to meet the demand for housing in a meaningful way.
He stated further that the development is the first of many, with the LDA managing a pipeline of approximately 20 sites that are expected to deliver around 10,000 homes across Ireland. Coleman noted that this marks a return to state-led housing delivery after years of relying on the private sector to meet housing needs.
What Does The Shanganagh Castle Project Offer?
One of the most important features of the Shanganagh Castle project is its commitment to energy efficiency. The development is set to be the largest passive house standard scheme in Europe.
Passive houses are built to rigorous standards that ensure high energy efficiency and low operating costs. Features like triple-glazed windows and advanced insulation contribute to lower energy bills for residents, making these homes both affordable and environmentally friendly.
Coleman pointed out that the homes target middle-income households, particularly those earning around €75,000 per year in gross household income. This demographic has struggled to find affordable housing in the private market, but they also do not qualify for social housing. The Shanganagh Castle project, and the broader LDA pipeline, aims to fill this gap by delivering homes that are accessible to a broader range of people.
The LDA has already begun work on several other state-owned sites, including projects in Cork, Naas, and multiple locations in Dublin, including Coolock and Clongriffin. With approximately 18,000 homes currently under development through both direct builds and partnerships with private builders, the Land Development Agency (LDA) is all set to play a significant role in Ireland’s housing future.
This large-scale mobilisation of public land for housing under the Shanganagh Castle Project marks a new chapter in the government’s response to the housing crisis and is a sign of renewed ambition in addressing one of the most important issues facing the country today.
