Applications now open for new Cost Rental Homes in Westmeath
Tuath Housing Association, Ireland’s largest Approved Housing Body (AHB), has announced that applications are now open for the third and final phase of Cost Rental Homes in the highly sought-after Farranshock Park development in Mullingar.
This phase comprises 15 newly built 3-bedroom cost rental homes that will be available at a monthly rent of €1,350 per/month from September 2024, representing approximately thirty percent less than the current market rates.
Built by Glenveagh Homes, the Farranshock development, will consist of 214 energy efficient, A-rated houses upon completion. Located close to the town centre of Mullingar, the development includes a selection of beautifully crafted two and three bedroom A-rated homes, 60 of which will be delivered by Tuath as cost rental housing. Tuath Housing has delivered 45 Cost Rental homes in this development to date.
Funded under the Cost Rental Equity Loan (CREL) scheme, cost rental homes present an exciting opportunity for individuals and families, with a net household income below €59,000 a year, to secure long term safe, secure and affordable housing.
Speaking on this latest development, Tuath Housing CEO, Sean O’Connor, stated: “This development marks another step in our ongoing mission to provide high-quality, affordable housing options in Westmeath and across Ireland. These homes are not just places to live; they represent security, stability, and the foundation for a thriving community. We look forward to welcoming families to Farranshock Park and supporting them as they build their long-term futures here."
Cost rental homes are designed to offer rents based on the actual cost of building, managing, and maintaining the properties, rather than market rates. This approach ensures long-term affordability and security of tenure, allowing families to establish roots and thrive in a supportive community.
Tuath Housing is Ireland's leading provider of cost rental housing, with over 400 cost rental homes delivered to date in counties Dublin, Kildare, Louth and Westmeath. With over 800 cost rental homes in the pipeline this year, Tuath continues to expand its mission of providing secure, affordable housing across Ireland.
Applications for these new homes are now open. Interested parties can apply through the Tuath Housing website at: https://tuathhousing.ie/cost-rental/.