Construction BUSINESS

The Irish Government has announced a substantial investment of €100 million to facilitate the construction of over 1,000 student accommodation beds across various universities. This initiative aims to address the pressing need for affordable student housing, ensuring that higher education remains accessible to all.

Taoiseach Simon Harris, alongside Minister for Further and Higher Education, Research, Innovation and Science Patrick O’Donovan, Minister of State for Skills and Further Education Niall Collins, and Minister of State at the Department of Public Expenditure, National Development Plan Delivery and Reform Ossian Smyth, revealed the details of the investment at Government Buildings.

The funding will support the development of 493 new beds in University College Dublin (UCD), advance the progression of 405 new beds in Dublin City University (DCU) through the tender stage, and facilitate the construction of 116 new beds in Maynooth University.

A significant condition of the State funding is that 30 percent of the newly constructed beds will be reserved for students in National Access Plan priority groupings or categories eligible for support through SUSI, the national grant-awarding body. These beds will be offered at a discounted rate of rent, ensuring affordability for those in need.

Expressing his commitment to addressing the challenges surrounding student accommodation, Taoiseach Simon Harris emphasized the importance of making higher education as affordable and accessible as possible. Minister Patrick O’Donovan echoed these sentiments, acknowledging the financial burden that accommodation costs can pose to students and underscoring the significance of this investment in increasing housing supply and easing pressure on the private rental market.

In addition to the short-term activation measures, which have already shown success in revitalizing projects with existing planning permission, the Government is also focusing on long-term strategies to ensure balanced regional responses and standardized design approaches for new student accommodation. These efforts are aimed at delivering additional supply and reducing barriers to higher education for students across the country.

Minister of State Niall Collins emphasized the importance of both short-term activation measures and longer-term plans in addressing the housing needs of students. Minister of State Ossian Smyth highlighted the Government’s commitment to increasing housing supply, noting that the investment in student accommodation will pave the way for future phases of development and ensure a sustainable model for affordable housing.

This significant investment underscores the Government’s dedication to supporting students and enhancing access to higher education for all citizens.