Construction BUSINESS

Oaklee Housing’s newest €11 million turnkey development in Stormanstown House, Dublin, has been officially opened, further reducing the social housing waiting list. The €11million development completed in early October is part funded through a combination of funds from the Capital Advance Leasing Facility (CALF) (30%) and private finance from the Housing Finance Agency (70%). The new development also received positive support from Dublin City Council and the Department of Housing.

Oaklee Housing entered into a contract with a developer to acquire the site on completion, which facilitated the recommencement of construction of the site. The partially completed development, which had been derelict for almost a decade has transformed the Ballymun area. The Taoiseach and Minister received a tour of the new development by Oaklee Housing staff and got the chance to meet some of the new tenants and hear how their new home will have a positive impact on their lives.

Sharon Cosgrove, Chief Executive of Oaklee Housing, said: “This partially completed development lay derelict for almost a decade and was an eyesore for local neighbours. Given the requirement for social housing in the area Oaklee Housing were delighted to acquire the completed units within a top quality scheme, which will provide much needed social housing for families in need.”

CAPTION:

Taoiseach Leo Varadkar and Minister of State for Housing and Urban Development Damien English at the official opening of the Oaklee Housing’s newest €11 million turnkey development in Stormanstown House, Dublin.