Clúid Housing have launched 73 new cost rental homes in Cork. The homes, which are the first in Cork, are a mix of one and two bedroom apartments in Lancaster Gate in Cork city.
The new homes were launched under the Government's Cost Rental Scheme, where rents are targeted at a minimum of 25% below open market value. €70 million was allocated in Budget 2022 for the delivery of 700 Cost Rental Homes, some of which have already been launched by Clúid in Dublin and Kilkenny.
The first homes will be available to move into from October this year and residents will be given long-term security of tenure.
Fiona Cormican, Directior of New Business at Clúid Housing, commented on the launch:
"We are delighted that Cork City's first cost rental homes are open for application from today. These stunning new apartments will provide residents with high-quality, affordable homes in the heart of the city. With rents of around 45% below market rates, these new homes in Lancaster Gate offer secure rental options for middle income households and those struggling to rent on the open market."