TÚATH SPRING 2016 NEWS
TÚATH ANNOUNCES NEW CHAIRPERSON
Túath is pleased to announce the appointment of serving Board Director Seamus Doherty as Chairperson. Seamus is a Fellow of the Institute of Chartered Accountants, Fellow of the Institute of Bankers, an Associate of the Institute of Taxation and holds an MSC from Trinity College, Dublin. Seamus has extensive international banking experience having lived and worked in the USA, Singapore, Eastern Europe and the Middle East. Presently, Seamus runs his own business specialising in Management Consultancy, Corporate Finance and Real Estate.
Túath would like to extend sincere thanks to James Pike, who retired as Chairperson following a three year term. James will continue serving on the Board. Under the direction of James, Tuath has become one of the fastest growing and progressive Housing Associations in Ireland.
NEW SOCIAL HOMES IN LEINSTER & MUNSTER
Túath On Course to Double Output in 2016
By the end of Quarter 1/2016, 76 new homes were completed with contracts already signed on a further 285 homes for completion throughout 2016.
Fingal New Homes
31 homes were acquired across two developments in Balbriggan and another in Clonsilla in partnership with Fingal County Council. Nine homes were purchased in The Glebe, Balbriggan with eleven purchased in Bremore Pastures, and an additional eleven in Castlegrange, Clonsilla. The Glebe consists of a single terrace of 3-bed houses while a mix of houses and apartments were acquired in Bremore Pastures and Castlegrange. All 31 homes have been allocated to families from Fingal County Councils social housing waiting. CALF funding from the Department of Environment and private finance from the Housing Finance Agency (HFA) was utilised to facilitate the acquisitions.
Cork Acquisitions
Túath completed two NARPS leased schemes in Cork, both consisting of ten homes. We worked closely with NAMA and Cork County Council to deliver houses in Tir Cluain, Midleton which have been allocated to families from the council’s waiting list and also to tenants who had to decant from their existing homes due to flood damage. The second scheme in Maryborough Ridge, Douglas is a mix of apartments, duplexes and terrace houses. Both developments were completed to a high standard with a full internal fit-out including furniture, flooring and appliances. Túath are delighted to have strengthened its presence within both schemes, where the association already provides social homes in partnership with the Council.
Capital Assistance Scheme (CAS)
A number of one-off CAS purchases were made in Counties Cork and Monaghan including a 3-bed bungalow which has been acquired in partnership with Cheshire Ireland and Cork County Council. The property will be specially adapted to meet the needs of the residents.
The association also purchased a 2-bed apartment in Monaghan in partnership with Monaghan County Council. The availability of CAS funding has helped tenants find safe and secure places to live, and we thank the DECLG and the relevant local authorities for their assistance in completing these acquisitions.
Lease Buy Outs in Kilkenny & Kildare
Seville Lawns, Kilkenny
Túath were managing three homes on behalf of Kilkenny County Council in Seville Lawns, Kilkenny. Funding to purchase these new homes was made available via CALF and private finance through the Housing Finance Agency (HFA).
Clonmullion Retirement Village, Athy, Co Kildare
We also purchased 36 two-bed adapted homes in Clonmullion Retirement Village, Athy. The Association has purchased them through CALF and private finance with the HFA. All current tenants will remain in their homes with a secure tenure going forward.
Túath are delighted to have increased its overall number of owned units and thank both Kilkenny and Kildare County Councils for their support and assistance in the ‘anchoring’ of these high quality homes in the County’s permanent supply of social housing.
Wicklow County Council Collaboration Greystones Apartments Delivered
The association’s working relationship with Wicklow CoCo was strengthened this year resulting in the delivery of much needed homes within the County. April saw the delivery of seven high quality apartments within the La Touche development in Greystones.
Túath worked in partnership with NAMA, Wicklow County Council and the Department of Environment, Community and Local Government to acquire the properties. A planning restriction on this development means that all tenants must be over the age of 55 and as a result all properties have been fully adapted to meet the needs of the end user. They have been exclusively allocated to over 55’s from the Council’s waiting list.
COMING SOON
Contracts Signed for 117 New Homes in Dublin City for 2016
In response to the escalating affordable housing crisis, Túath are buying new high quality homes at An Riasc in Finglas and Thornwood in Beaumont. The unique opportunity to purchase both of these small housing developments has been taken up as an extraordinary response to the extraordinary housing situation. Financing and loans are being provided to Túath by the Department of Environment and the Housing Finance Agency utilising European Investment Bank monies.
49 new homes in An Riasc, Finglas
The first homes at both estates are scheduled to be handed over for occupation before the summer. The new homes comprise ninety-five no. 2, 3 and 4 bed houses and twenty-two no. 2 and 3 apartments and duplexes. All properties will be exclusively allocated to families on the City Council’s waiting list before the end of the year in a small number of phases. Túath Chief Executive, Sean O’Connor stated, “The Association is extremely pleased to have secured these high quality homes in accordance with our core remit to provide homes for those who cannot afford to provide homes for themselves in today’s dysfunctional residential market. Túath will be working hard to ensure that the schemes become safe, secure and popular places where people and families choose to live and settle down in and where being a good neighbour is valued. Túath thanks Dublin City Council, the Housing Agency and the Department of the Environment, Community & Local Government for their support without which Túath would not be able to deliver these homes.’’
68 new homes to be provided in Thornwood Beaumont
Dick Brady, Assistant Chief Executive, Dublin City Council welcomed the announcement; “These additional family homes are very welcome, especially as they will all be delivered in 2016. Túath Housing is to be congratulated for securing these much needed new homes.”
Barry O’Leary, Chief Executive of the Housing Finance Agency commented;
“Supporting the delivery of new social housing, particularly in areas of high demand, is the major strategic objective of the HFA. We are therefore very pleased to be able to fund these schemes with very cost effective long term finance fixed for twenty five years at a rate of 3.25%. We have finance available and will continue to actively engage with the voluntary housing sector to support social housing projects such as these”.
