The Land Development Agency (LDA) has announced the launch of 184 cost rental apartments in Cookstown in Tallaght. An online application portal for the new homes opened on June 20th. The high-quality development has been delivered through the LDA’s Project Tosaigh initiative and will provide eligible households with the opportunity to secure a new A-rated home at rents that are on average least 25% lower than comparable market rates as enabled by the Government’s STAR scheme.
The available homes are located at Cookstown Gateway and include a mix of studios, 1 and 2 -bed apartments. The development overlooks Cookstown Luas Stop on the Red Luas Line and is within walking distance of Tallaght University Hospital and The Square Shopping Centre. A new grocery retailer is due to open in the complex shortly, which is also close to a host of local amenities, shops and services.The location is well-served by Dublin Bus. It’s close to the M50 and near to a number of employment hubs including Citywest Business Campus and Grange Castle Business Park.
The rents are set at €1,000 for a studio apartment and €1,225 for a 1-bed. Rents for a 2-bed apartment start at €1,425.
The homes at Cookstown Gateway were delivered in partnership with Stranwill Ltd. Would-be applicants are advised to familiarise themselves with the eligibility criteria and to prepare the documentation they will need if selected through the lottery application process. Project Tosaigh is a Government initiative being delivered by the LDA in which the Agency steps in to facilitate the completion of housing projects and then makes the new homes available to renters on a cost rental basis or to purchasers at an affordable price.
Created under the Affordable Housing Act 2021, cost rental offers a long-term secure rental option at below comparable market rates for would-be tenants who do not qualify for social housing but who cannot access the private market without support. Applicants for cost rental homes must have a net household income of below €66,000 in Dublin and €59,000 outside Dublin. The Cookstown Gateway announcement follows the recent launch of over 600 cost rental Project Tosaigh apartments at four separate developments in Dublin and Leixlip in Kildare.
In total, more than 900 cost rental homes have been delivered by the LDA in the past year, with almost 500 tenants now living in LDA homes across Dublin, Wicklow and Kildare. The average rent of an LDA cost rental home in Dublin now stands at €1,409 per month compared to the €2,098 in the private rental sector.
John Coleman, Chief Executive Officer of the LDA said “The LDA is delighted to bring much needed cost rental homes onto the market in Dublin. These are high quality, A-rated apartments in a great location at below market rents with security of tenure. It’s a really excellent opportunity for people looking to live in a well-connected and established community. “I would strongly urge potential applicants to familiarise themselves with the application process and the qualifying criteria to give themselves the best chance of securing one of these great homes.”
